Providence Equity LLP, Carlyle Group and Hellman & Friedman LLC offered 506 pence per Informa share, or £2.15 billion in total, assuming no new dividends are declared.
A deal would be one of the
largest leveraged buyouts in Europe since the credit markets collapsed,
and concern that the consortium will struggle with financing has
weighed on Informa's shares.
"Discussions continue to be at an early stage, and there can be no certainty that an offer will be made," Informa added.
The London-based publisher of Lloyd's List shipping magazine earlier this month broke off merger talks with United Business Media plc and disclosed a competing takeover approach. Providence of Rhode Island and Washington-based Carlyle then identified themselves as the suitors, and they were later joined by San Francisco's Hellman & Friedman. The offer is slightly above 500 pence per share widely predicted. The PE consortium were among a number of buyout shops to have considered a bid. See the full story on TheDeal.com for the others. - Laura Board
