Privately held news and financial data service Bloomberg LP has no imminent plans to put itself on the block, its chairman told the New York Times in an article published Sunday.
“A sale is not something we’re spending any time thinking about,” the newspaper quoted Chairman Peter Grauer as saying. ”We are and will always be a private company.”
Company founder Michael Bloomberg, currently New York City’s mayor, said last year he would not return to the company, that he would eventually sell the company, and that he eventually wants to run a charitable foundation.
The newspaper said a sale would not occur for several years if Bloomberg is re-elected this year. If Bloomberg loses the election, a sale could come sooner, the newspaper reported.
The newspaper quoted analysts as saying the company could be worth between $7 billion and $9 billion, valuing Bloomberg’s 72 percent stake at $5 billion to $6.5 billion.
Bloomberg competes with Reuters Group PLC in the market for news and financial information.