Informa offers to buy events organiser UBM

Super Yachts Moored In South Quay As Their Owners Visit London Ahead Of The Olympics

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Britain's Informa (INF.L) is in talks about a deal to buy events organiser UBM (UBM.L) for more than 3 billion pounds ($4.14 billion), rekindling plans from nearly a decade ago to create a major business media and conventions group.

'On a first pass basis we believe a combination of Informa and UBM would be well placed to capitalise on these dynamics and could be positive for both sets of shareholders if a deal is struck at an appropriate price and the subsequent integration process thoroughly executed. A mix and match facility will also be offered as part of the deal.

The UBM Plc (LON:UBM) (UBM.L) share price has surged around 13% higher today after it became the subject of a bid from sector peer Informa PLC (LON:INF) (INF.L).

The deal terms were outlined after the groups confirmed talks on Tuesday. Informa has until February 13 to make a firm offer for UBM, according to United Kingdom takeover rules. At that price, its offer is worth 893 pence per UBM share. They have now detailed the "commercial and strategic rationale" for the proposed combination.

UBM is the largest pure-play B2B Events organiser in the world, while Informa has more than 7,500 colleagues globally, with a presence in North America, South America, Asia, Europe, the Middle East and Africa.

Informa, which also has academic publishing and business intelligence operations, has also built its events business in recent years.

After selling most of its publishing business in 2015, it rebranded to primarily focus on B2B events.

They said that Derek Mapp, Informa's chairman, and the blue chip firm's chief executive, Stephen A. Carter would take up the same roles in the combined group.

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