Update on the proposed sale of PR Newswire to Cision

UBM PLC - Update on the proposed sale of PR Newswire to Cision

PR Newswire

London, March 3

3 March 2016

UBM plcUpdate on the proposed sale of PR Newswire (PRN) to Cision, a business controlled by GTCR Canyon Holdings (Cayman) L.P.Further to the announcement regarding the proposed sale of PRN to Cision, on 15 December 2015, UBM plc (“UBM”) is updating shareholders in relation to the clearance sought from the United States Department of Justice (the "DOJ") in connection with the transaction.UBM has received a request for additional information and documentary material from the DOJ relating to certain PRN products which account for a very small portion of PRN’s global revenues. This form of request from the DOJ, often referred to as a "Second Request", is part of the regulatory process under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the "HSR Act").The effect of the "Second Request" is to extend the waiting period imposed by the HSR process until 30 days after UBM and Cision have substantially complied with the "Second Request" unless that period is extended voluntarily by the parties or terminated sooner by the DOJ.UBM and Cision will cooperate fully with the DOJ in responding to the "Second Request" and will continue to work cooperatively with the DOJ in connection with its review of the transaction and in seeking to reach a prompt resolution. UBM expects that completion will be after the end of Q1 2016. Both parties to the transaction remain confident that completion will be achieved.Completion of the Transaction remains subject to HSR clearance and the satisfaction of other customary closing conditions.

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Notes to Editors – About UBM plc

UBM plc is a leading global marketing services and communications company, whose primary focus is events. We help businesses do business, bringing the world’s buyers and sellers together at events, online and in print. Our 5,100 staff in more than 20 countries are organised into specialist teams which serve commercial and professional communities, helping them to do business and their markets to work effectively and efficiently. Running over 400 events per year, UBM is the second largest exhibitions organiser globally and the largest independent organiser in the US and China.

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