18th Sep 2014 06:41
LONDON (Alliance News) - Events marketing and communications company UBM PLC Thursday confirmed that it has been involved in discussions to potentially acquire its trade show rival Advanstar Communications Inc, following recent media speculation.
The PR Newswire owner said the discussions may or may not lead to an offer, and said it will make a further announcement in due course as appropriate.
Reuters reported Tuesday that UBM was looking to acquire Advanstar, a privately-held US based company, for around USD900 million, citing people familiar with the matter.
Advanstar has a portfolio of 54 trade shows, including the MAGIC Marketplace fashion event held in Las Vegas, 100 conferences, and 30 publications amongst other assets.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
UBM