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1/17/2018, 9:33 AM (Source: TeleTrader)
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Informa in talks to acquire UBM for £3 billion

London-based publishing and events company Informa plc said on Wednesday it is in talks to acquire business-to-business (B2B) events organizer UBM plc for £3 billion.

"It is clear that the B2B market is moving to operating scale and industry specialization. The combined group will have the reach and market capabilities to take full advantage of these trends," Informa CEO Stephen Carter stated.

The proposed deal would include UBM shareholders receiving 1.083 Informa shares and 163 pence in cash for each share they hold. Carter would remain the CEO of the joint company and Informa Chairman Derek Mapp would become the chairman of the group.

FTSE 100 constituent Informa's stock plunged 5.41% at 9:11 am CET, while UBM shares soared 15.64% on the news at 9:12 am CET.

Breaking the News / NP