The market has been skeptical for some time about the consortium's ability to raise the necessary debt for its proposed £3.37 billion ($6.71 billion) buyout, and the company's languishing share price suggested a formal offer might be some time in coming. But the following day, the company behind Lloyd's List shipping magazine was forced to come back with the news that it had received a preliminary approach from an unnamed third party.
By Wednesday, the British papers were busy speculating on who the bidders could be, with the Financial Times leading the field with a claim that New York private equity shop Blackstone Group LP has teamed up with Middle Eastern exhibition and events business Dubai World Trade Centre LLC and others to buy Informa and break it up. The FT added that Hellman & Friedman had walked away from the Providence consortium, while the Daily Telegraph suggested Dubai had also been in talks with the Providence group. Others came up with a combination of Blackstone, Kohlberg Kravis Roberts & Co. and Permira Advisers LLP, though sources suggest that Permira, at least, is not keen to make an Informa bid. - Jonathan Braude
