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Informa ditches takeover talks
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19 September 2008
The conferences and exhibitions organiser and Lloyd's List publisher today said talks with a consortium of US private-equity firms have ended after the Americans said they would not up their offer of 450p a share.
The consortium of Providence Equity, Carlyle and Blackstone walked away, saying their lenders would not back an increased offer.
Informa had indicated only an offer of at least 500p a share would begin to be acceptable, though it is understood the board had privately talked of listening to a revised 470p-480p offer.
The consortium had argued the Informa board should accept the 450p on offer at a time of when the group's operational outlook is poor.
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