Informa plc's private equity suitors are reportedly making a big push to announce a deal prior to the business publisher's earning announcement on Monday. The British company has been considering a
$4.2 billion approach from U.S. buyout firms Providence Equity Partners LLC, Carlyle Group and Hellman & Friedman LLC.
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Sources close to the deal
told Reuters that "the deal is more likely to go ahead on Monday than
not," while a second source "cautioned that while the companies would
try to have a deal to announce by the time of Informa's earnings
statement on Monday, the number of parties involved could complicate
the process and add time to the negotiations."
The London-based publisher broke off merger talks with United
Business Media plc in June and disclosed a competing takeover
approach. Then in early July, the buyout shops revealed their interest.
Their reported 506 pence ($10.07) per share offer is slightly above the 500
pence per
share likely sale price widely predicted.
A deal for Informa would be one of the largest leveraged buyouts in
Europe since the credit markets collapsed, leading to concern that the
consortium may struggle with financing, which has weighed on Informa's
shares. - George White
See Reuters story
See Dealscape post on the bid
See story on bidders on TheDeal.com
