John Wiley & Sons, Inc. has announced that it has entered into a definitive agreement to acquire the outstanding shares of Blackwell Publishing (Holdings) Ltd., academic and professional publishers. The purchase price of £572 million (˜$1 million) will be financed with a combination of debt and cash. The transaction will be implemented through a U.K. Scheme of Arrangement. Wiley has received irrevocable commitments from the principal shareholders of Blackwell Publishing to sell their shares to Wiley. The companies anticipate that the transaction will close early in 2007. Blackwell's publishing programs include journals, books, and online content in the sciences, technology, medicine, the social sciences, and humanities. Blackwell Ltd., a book library service and retailing business, is a separate entity and is not part of the acquisition. Blackwell Publishing was advised by JPMorgan Cazenove in relation to this transaction.