Reed Elsevier's trade-magazine division will enter a crucial phase as early as Monday,

With the company's bankers at UBS inviting bidders including Bain Capital LLC and MHP to submit their second round of offers, people familiar with the matter say. An initial round of bids for the Anglo-Dutch company's division, due Aug. 11, value it at between £1 billion and £1.25 billion ($1.87 billion and $2.33 billion), the people said. A majority of the suitors will be asked to re-bid in the coming weeks in order to whittle down the list further, the people said. A final round of offers will likely be due in early October. [Wall Street Journal]