Canada clears Random House-Penguin merger


Canada’s Competition Bureau and the Department of Canadian Heritage approved the proposed merger between Random House and Penguin on Friday. Penguin parent company Pearson and Random House parent company Bertelsmann expect the merger to take place in the second half of 2013.

Random House and Penguin announced their merger last October. The U.S. Department of Justice approved it in February, followed by AustraliaNew Zealand and the European Union. Bertelsmann would own 53 percent of the combined company, and Pearson would hold 47 percent. Random House Penguin aims to enter emerging markets and expand its digital businesses.

The merger awaits approval in China.

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