Informa has sealed its £3.8bn takeover of conference organiser UBM on Tuesday, creating an enlarged business information and events firm.
FTSE 100 company Informa will pay 1.083 new shares and 163p in cash for each UBM share under the terms of the deal, in line with an announcement earlier this month, reports The Telegraph.
The deal, which comes almost a decade after UBM tried to buy Informa, will create a world leader in events, the fastest growing part of Informa’s business.
“It is clear that the business-to-business (B2B) market is moving to operating scale and industry specialisation,” Informa chief executive Stephen A. Carter said.
“Our recommended offer for UBM promises to create a leading B2B Information Services Group with the international reach and market capabilities to take full advantage of these trends.”
He said the deal would create at least £60m of cost savings a year after the businesses were integrated by 2019.
UBM also updated the market on its recent trading, saying the fourth quarter had been ahead of expectations and as a result it expected its full-year profit to be ahead of forecasts.
