British Media Mammoths Break off Talks

19 June 2008

LONDON: Merger discussions between two of Britain's largest media and market intelligence publishers, Informa and United Business Media, have collapsed.

Negotiations over a £3 billion ($5.91bn; €3.76bn) all-share, nil-premium deal between the evenly matched pair are thought to have ended due to a private equity bidder's interest in acquiring Informa.

A statement from UBM, which owns the Building and Travel Trades Gazette titles among many others, said: "The board of UBM has been unable to agree terms with Informa that would be in the best interests of UBM shareholders."

The private equity bidder is thought to be Providence, which has made no comment so far.

Informa, on the other hand, has said: "The board . . . announces that it has received a further approach from a third party that may or may not lead to a takeover offer in cash being made for the company."

Data sourced from Financial Times Online; additional content by WARC staff