Mead Corp, the Dayton, Ohio forest products giant, has decided to divest its famous Mead Data Central unit, gran’daddy of the on-line information database business and best known for its Lexis and Nexis legal databases. Mead says its board has decided to focus on its core paper, pulp, packaging and paperboard businesses and has retained Goldman Sachs & Co to assist in evaluating divestiture alternatives to maximise value of the unit, thought to be worth $1,000m. Sale to a strategic buyer is the most likely alternative, the company said, adding that other options will be considered. The unit was acquired for just $6m way back in 1968. It is now claimed to be the world’s largest provider of on-line information services for legal, news and financial information, with $551m turnover last year.
