Informa ditches takeover talks - Business - Evening Standard
       

Informa ditches takeover talks

The £1.9 billion takeover bid for Informa fell apart today for the sake of another £90 million, amid recriminations that shareholders have missed out on a chance to cash in.

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.

Comments

Don't Miss
Rock star: Erin Wasson

Rock star

Erin Wasson is the ultimate anti-supermodel
Maybe it’s because she’s a Londoner … Happy anniversary, Ma’am

Happy anniversary

The monarchy has become stronger and more respected in the past 60 years
Victoria Coren: My obsession with children, five proposals a week and why David and I are no power couple

Victoria Coren

David Mitchell and I are no power couple
The Royal Academy of Arts Summer Exhibition preview party

Summer party

Stars at the The Royal Academy of Arts
London gets ready for the Diamond Jubilee - in pictures

Diamond Jubilee

London gets ready - in pictures
The Glamour Awards - stars turn on the style

Glamour Awards

Stars turn on the style
Duchess of Cambridge is pretty in pink at her first Buckingham Palace garden party

Garden party

Duchess of Cambridge is pretty in pink
FIRST review of Ridley Scott's latest sci-fi blockbuster Prometheus

First review

Is Ridley Scott's Prometheus any good?
Fair-weather goths

Fair-weather goths

The sultry shades of summer darks are coming out of the shadows
Dog save the Queen: Corgis surge in popularity

Dog save the Queen

Corgis surge in popularity