UBM, Informa in Possible Merger Talks
After UBM’s stock price jumped considerably, news was released that the mega exhibition organizer is in talks to possibly merge with Informa, another mega exhibition organizer.
UBM released the following statement:
“Further to the recent UBM share price movement, the Boards of UBM and Informa confirm that they are in discussions regarding a potential combination of the two companies, to be effected by way of an acquisition of the entire issued and to be issued share capital of UBM by Informa for shares and cash consideration (the "Potential Combination"). UBM and Informa are in preliminary discussions about the details of the Potential Combination, which is subject to a number of standard conditions.”
The statement added that there is no certainty that any firm offer will be made or as to the terms on which any offer might be made. Informa reserves the right to introduce other forms of consideration and / or vary the mix or composition of consideration of any offer.
Informa has until Feb. 13 to announce a firm intention to make an offer for UBM.
UBM as more than 3,750 employees working in 20 countries serving more than 50 industry sectors.
Informa has more than 7,500 colleagues globally and a presence in all major geographies, including North America, South America, Asia, Europe, the Middle East and Africa.
At the time of posting, UBM’s stock price had jumped more than 40p to a high of 789p on the London Stock Exchange. Informa stock remained basically unchanged.
TSNN will be following this news closely with continual updates.