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Informa to Buy Ascential
7/24/2024
The boards of Informa and Ascential are pleased to announce that they have reached agreement on the terms of a recommended cash offer for the entire issued and to be issued ordinary share capital of Ascential. It is intended that the Offer will be implemented by way of a Court sanctioned scheme of arrangement under Part 26 of the Companies Act. Under the terms of the Offer, each Ascential Shareholder will be entitled to receive 568 pence in cash for each Ascential Share held. The Offer values the entire issued and to be issued share capital of Ascential at approximately £1.2 billion on a fully diluted basis. Commenting on the Offer, Stephen A. Carter, Chief Executive of Informa, said: "Informa is in the business of creating, nurturing and growing world class B2B brands. Lions and Money20/20 are outstanding examples of such brands. Combined, we can expand them into more sectors, accelerate growth and take advantage of new opportunities. Informa has the operating platform and capacity. We have international reach into growth sectors. We have IIRIS, our First Party Data Platform, and we have an understanding of both the FinTech and Marketing sectors. These strengths make us ideally placed to capture the growth and acceleration opportunities available to both Lions and Money20/20." Commenting on the Offer, Philip Thomas, Chief Executive of Ascential, said: "I am extremely proud of all of Ascential's brands, and the people who work so hard to deliver for them every day. Our two divisions, Lions and Money20/20, have transformed how our customers around the world experience events, and benefit from both digital intelligence and advisory services. The value our businesses bring to their respective industries is clear as is the regard in which they are held by Informa. Informa is a highly respected business, famed for its expertise in B2B events, strong, ethical culture and commitment to innovation. This offer will not only deliver substantial value for our shareholders but also, together with Informa's international footprint and extensive capabilities in data and analytics, will unlock further growth opportunities for our brands and our people." Informa believes it is uniquely positioned to provide the global platform and operations to enable Ascential's divisions to continue their strong growth trajectory. This area contains all of the materials related to the offer: https://www.informa.com/investors/informaandascential Contact: questions@exhibitormagazine.com |
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