17th Jun 2008 18:16
For immediate release
17 June 2008
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION IN OR INTO AUSTRALIA, CANADA, JAPAN OR UNITED STATES
Informa plc
Termination of Discussions with United Business Media plc and Approach Received from Third Party
The Board of Informa plc ("Informa" or the "Company") notes the recent announcement by United Business Media plc ("UBM") that discussions between UBM and Informa have ceased.
As announced on 8 June, UBM approached Informa regarding a possible all-share merger. These discussions remained at a very preliminary stage and no agreement on terms had been reached between the parties.
The Board of Informa also announces that it has received a further approach from a third party that may or may not lead to a takeover offer in cash being made for the Company.
The Board confirms that Informa continues to trade in line with its expectations.
A further announcement will be made in due course.
Enquiries:
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Informa |
Telephone: +44 (0) 20 7017 5000 |
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Peter Rigby |
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Adam Walker |
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Greenhill & Co. International LLP (Financial adviser to Informa) |
Telephone: +44 (0) 20 7198 7400 |
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Simon Borrows |
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Rachel Clark |
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Hoare Govett (Corporate broker to Informa) |
Telephone: +44 (0) 20 7678 8000 |
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Sara Hale |
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Maitland (PR adviser to Informa) |
Telephone: +44 (0) 7785 292617 |
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William Clutterbuck |
Dealing disclosure requirements
Under the provisions of Rule 8.3 of the Takeover Code (the "Code"), if any person is, or becomes, "interested" (directly or indirectly) in 1% or more of any class of "relevant securities" of Informa, all "dealings" in any "relevant securities" of Informa (including by means of an option in respect of, or a derivative referenced to, any such "relevant securities") must be publicly disclosed by no later than 3.30 pm (London time) on the London business day following the date of the relevant transaction. This requirement will continue until the date on which any offer becomes, or is declared, unconditional as to acceptances, lapses or is otherwise withdrawn or on which the "offer period" otherwise ends. If two or more persons act together pursuant to an agreement or understanding, whether formal or informal, to acquire an "interest" in "relevant securities" of Informa, they will be deemed to be a single person for the purpose of Rule 8.3.
Under the provisions of Rule 8.1 of the Code, all "dealings" in "relevant securities" of Informa by any potential offeror or Informa, or by any of their respective "associates", must be disclosed by no later than 12.00 noon (London time) on the London business day following the date of the relevant transaction.
A disclosure table, giving details of the companies in whose "relevant securities" "dealings" should be disclosed, and the number of such securities in issue, can be found on the Takeover Panel's website at www.thetakeoverpanel.org.uk <http://www.thetakeoverpanel.org.uk/> .
"Interests in securities" arise, in summary, when a person has long economic exposure, whether conditional or absolute, to changes in the price of securities. In particular, a person will be treated as having an "interest" by virtue of the ownership or control of securities, or by virtue of any option in respect of, or derivative referenced to, securities.
Terms in quotation marks are defined in the Code, which can also be found on the Panel's website. If you are in any doubt as to whether or not you are required to disclose a "dealing" under Rule 8, you should consult the Panel.
Related Shares:
InformaUBM