3rd Mar 2016 07:50
LONDON (Alliance News) - UBM PLC said Thursday the US Department of Justice has requested additional information and documentary material regarding some of its PR Newswire products in relation to its sale of PR Newswire to Cision Inc.
This USD841 million sale is currently under regulatory review by the Department of Justice, and UBM said it and Cision will "cooperate fully" with the request and will continue to work with the Department of Justice in relation to the review.
UBM expects to complete the sale of PR Newswire after the end of the first quarter of 2016, and reiterated confidence that the sale will be achieved. At the time of its 2015 results last month, UBM said it expected to complete the sale at the end of the first quarter.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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