Reed Elsevier, the link-up between Britain's Reed International and Dutch firm Elsevier, yesterday announced plans to merge with Amsterdam-based Wolters Kluwer to create the world's largest professional and scientific publisher. The new £17.5 billion company aims to capitalise on the strong growth platform which combining their current market positions will provide.

Reed's share price jumped 15 per cent on the news. Combining the two will give the new company strength in the US, Europe and Asia Pacific markets. The group will have a worldwide workforce of 42,000 employees, 24 per cent of whom will be British-based.