Informa gets US green light for Penton purchase
Informa's £1.2bn acquisition of Penton Information Services had been cleared by US antitrust authorities.
FTSE 100
8,060.61
15:45 15/11/24
n/a
n/a
FTSE 350
4,453.56
15:45 15/11/24
n/a
n/a
FTSE All-Share
4,411.85
15:45 15/11/24
n/a
n/a
Informa
847.20p
15:45 15/11/24
-0.68%
-5.80p
Media
12,522.60
15:45 15/11/24
-2.67%
-343.44
Following the recent approval received by Informa's shareholders for the US-based exhibitions and professional information services group, all US competition clearance processes under the Hart-Scott-Rodino antitrust act were completed on Thursday.
The acquisition, part of the company's growth acceleration plan, is to be funded by a fully-underwritten £715m rights issue on top of existing cash.
Informa said the transaction should complete in early November, with the results of a rights issue due to be announced on 26 October 2016, with dealings in rights issue shares beginning on the London Stock Exchange immediately afterwards.