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Nikkei to acquire the Financial Times

TOKYO -- Nikkei Inc. announced Thursday it has agreed to acquire all the shares in Financial Times Group from U.K. education company Pearson for 844 million pounds ($1.3 billion). By integrating the time-honored FT brand into the group, Nikkei aims to advance its global and digital growth strategy.

     Pearson's board agreed to the deal Thursday. The price includes FT's cash holdings of 19 million pounds, so Nikkei will pay 825 million pounds. It will be one of the largest-ever acquisitions by a Japanese media company.

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