Reed Elsevier to launch quick-fire secondary

Reed Elsevier, the world's largest science publisher, plans to raise around £1.2bn (€1.98bn) in less than two days, in one of Europe's largest secondary share sales this year.

Reed Elsevier, which needs funds to help pay for its acquisition last month of Harcourt General, the medical publisher, is echoing the trend among European blue-chip companies to dispense with marketing their share issues.

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