Informa rejects reduced offer from Providence, Carlyle, BlackstoneUK-based media and conference firm Informa has rejected a fully-funded formal offer from a consortium comprising Providence Equity, The Carlyle Group and The Blackstone Group because the board believes that the 'price significantly undervalues Informa'. The offer was for 450 pence per share. It values the company at around £3bn.
Informa announced on 2 July 2008 that a consortium comprising Providence Equity, The Carlyle Group and Hellman & Friedman had approached the company with a proposal to acquire the share capital of Informa for 506 pence.
The private equity consortium may table a new, slightly higher offer, a source told Thomson Reuters.
Informa owns more than 2,000 publications including the Lloyd's List maritime newspaper.
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