LONDON (dpa-AFX) - The boards of Informa PLC (INF.L) and UBM plc (UBM.L) confirmed the creation of a B2B Information Services Group through a recommended offer for UBM by Informa. The offer, which is being recommended to shareholders by the boards of Informa and UBM, comprises a mix of shares and cash consideration from Informa for the entire issued and to be issued share capital of UBM. UBM Shareholders will receive: for each UBM share: 1.083 new Informa shares; and 163 pence in cash. The offer price represents: a value of approximately 971 pence per UBM share; and a value of approximately 3.9 billion pounds for UBM. The offer will also include a Mix and Match Facility.
The offer will result in Informa shareholders owning approximately 65.5% of the enlarged Group and UBM shareholders owning approximately 34.5% of the enlarged Group
Stephen Carter, Chief Executive of Informa said: 'The Enlarged Group has the potential to deliver strong growth and significant value for shareholders. We will seek to operate with speed and purpose through an Accelerated Integration Plan that unifies Management, combines our businesses and adopts a focused approach to Industry Specialisation. This will ensure the Enlarged Group enters 2019 as a single business, with positive growth momentum and well-placed to deliver at least 60 million pounds of annual recurring operating synergies.'
To coincide with Informa, UBM also now intends to release its 2017 full year results on 28 February 2018.
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