Three private equity firms are tripling the value of their investment in publisher Houghton Mifflin, which was acquired by Irish publisher Riverdeep in a $3.4bn (€2.6bn) deal.

The purchase price consists of $1.75bn in cash and $1.61bn in assumed debt.

Heidi Moore in New York

Blackstone Group

Citigroup

Goldman Sachs

Houghton Mifflin

Credit Suisse

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Coutts hires ex-JPMorgan banker James Todd as next private client boss

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