Filing Flows › John Wiley & Sons (WLY) › Takeover & LBO
Is John Wiley & Sons (WLY) a takeover target?
A leveraged buyout at today's price plus 30% ($66.52 a share) would return about 3% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $40.10 a share (−22% against today's $51.17). Historically 4.6% of companies with its figures were bought within a year (0.91× the average).
The buyout, step by step
| Entry | Amount | How |
|---|---|---|
| Offer price a share | $66.52 | today's $51.17 plus 30% |
| × shares | 50.8 million | |
| = Equity value | $3.4B | |
| + Debt refinanced | $1.3B | |
| − Cash | $106M | |
| = Enterprise value | $4.6B | 11.6× EBITDA of $393M |
| Fees | $91.2M | 2% of the price |
| New debt | $2.2B | 5.5× EBITDA at 7.65% a year; the limit that binds: 5.5× EBITDA |
| Buyer's own money | $2.5B | 54% of the cost |
5 years under the buyer
| Year | Revenue | EBITDA | Interest | Free cash flow | Debt left |
|---|---|---|---|---|---|
| Year 1 | $1.7B | $392M | $165M | $167M | $2.0B |
| Year 2 | $1.7B | $394M | $153M | $179M | $1.8B |
| Year 3 | $1.7B | $400M | $139M | $193M | $1.6B |
| Year 4 | $1.7B | $408M | $124M | $212M | $1.4B |
| Year 5 | $1.8B | $421M | $108M | $235M | $1.2B |
The exit and the buyer's return
| Exit | Amount | |
|---|---|---|
| Exit multiple | 9.6× EBITDA | today's trading multiple, before any premium |
| Enterprise value at exit | $4.0B | |
| − Debt left | $1.2B | |
| = Buyer's equity | $2.9B | |
| Money multiple | 1.15× | on $2.5B put in |
| Buyer's yearly return (IRR) | 2.9% |
Price against return
What the buyer makes at other premiums over today's $51.17; the IRR reaches 20% at $40.10 a share.
| Premium | Price a share | Buyer's IRR |
|---|---|---|
| 10% | $56.29 | 7.9% |
| 20% | $61.40 | 5.2% |
| 30% | $66.52 | 2.9% |
| 40% | $71.64 | 0.8% |
| 50% | $76.75 | −1.0% |
The figures used
| Figure | Amount | |
|---|---|---|
| Revenue, last 12 months | $1.7B | |
| EBITDA, last 12 months | $393M | 23.6% of revenue |
| Depreciation and amortization | $144M | |
| Capital spending | $50.4M | |
| Debt | $1.3B | |
| Cash | $106M | |
| Share price | $51.17 | on Oct 30, 2026 |
Fixed rules, the same as the interactive view's starting point: the shares are bought at today's price plus 30%, the company's debt is refinanced and fees take 2%. New debt is the least of 5.5× EBITDA, 65% of the price and the amount whose interest EBITDA covers 2 times, at 7.65% a year (SOFR 3.89% plus the high-yield B spread 3.26% plus 0.5%, rates of Oct 15, 2026). Revenue grows -0.3% in the first year — the company's own rate, held between −3% and +8% — fading to 3% by year 5; the EBITDA margin, depreciation and capital spending stay at today's share of revenue; working capital takes 10% of each year's added revenue; tax is 12% of profit after interest. Every dollar of free cash flow repays debt. After 5 years the buyer sells at today's multiple of EBITDA.
What a takeover could cost
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, John Wiley & Sons would cost about $67.80 a share, $3.4B for all its shares.
| Premium | % | Price a share | All shares |
|---|---|---|---|
| Low end (a quarter of deals paid less) | 20% | $61.40 | $3.1B |
| Median | 32.5% | $67.80 | $3.4B |
| High end (a quarter paid more) | 51.8% | $77.68 | $3.9B |
The odds, from history
Historically 4.6% of companies with its figures were bought within a year (0.91× the average). Its figures put it in decile 5 of 10 (10 = the most likely to be bought). The odds come from a model of every merger proxy, tender-offer response and going-private statement filed on EDGAR since 2011, set against each company's size, margins, debt, cash flow and growth the year before.
John Wiley & Sons' latest quarter
John Wiley & Sons, Q1 FY27: revenue $386M (-3% year over year), operating margin 0.8%, net loss $11.7M, operating cash flow −$55.3M. The chart follows the revenue to costs, profit and cash.
Questions
Is John Wiley & Sons being acquired?
No headline, 8-K or 13D about a sale is on file in the last year.
Could private equity buy John Wiley & Sons?
A leveraged buyout at today's price plus 30% ($66.52 a share) would return about 3% a year to a private-equity buyer over 5 years; the most a buyer could pay for a 20% return is $40.10 a share (−22% against today's $51.17).
What would a takeover of John Wiley & Sons cost?
Takeovers on record paid a median premium of 32.5% over the share price before the deal (the middle half 20% to 51.8%), according to the 1,437 merger proxies and tender-offer responses on EDGAR that state a premium. At the median, John Wiley & Sons would cost about $67.80 a share, $3.4B for all its shares.
Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.