FT Chase Capped by Nikkei Leapfrogging Axel Springer Bid

For Nikkei Inc., Japan’s biggest financial news group, Thursday’s $1.3 billion deal to buy the Financial Times capped a lengthy pursuit of the pink-hued newspaper.

Eager to diversify outside of its home market and gain gravitas in the English-speaking world, Nikkei had approached owner Pearson Plc repeatedly over the past few years about buying the FT, only to be told the title wasn’t for sale, according to people familiar with the matter who asked not to be identified because the information is private.