UK Green Light for Informa-UBM Deal

Business information firm Informa's bid to acquire and merge with UBM has cleared the UK's Competition and Markets Authority (CMA), and is likely to proceed in the middle of June.

Informa offered £3.8bn ($5.2bn) in cash and stock, back in January, and the deal had already been cleared in China, Germany, Turkey and the United States. This week the CMA decided it did not need to investigate the proposals, which leaves them subject to just one more hurdle, a Scheme Court Sanction Hearing scheduled for June 14th.

Once this is achieved, the two groups will be combined according to an 'Accelerated Integration Plan' lasting twelve months. Informa CEO Stephen A. Carter (pictured) comments: 'We welcome today's news which completes the regulatory process in relation to the Offer and confirms the Accelerated Integration Plan will commence on 18th June 2018. Our programme of Combination and Creation will take the best aspects of Informa and UBM and create a new business capable of pursuing the full growth opportunities on offer as a leading B2B Information Services Group'.

Tim Cobbold, Chief Executive of UBM plc, says the combination 'creates clear opportunities to achieve significant strategic, operational and financial benefits'. UBM Shares are expected to cease trading on Thursday 14th June 2018 with the Offer - valuing each UBM share at a 30% premium on the January share price - effective the following day.

Web sites: www.informa.com and www.ubm.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.