Informa gets US green light for Penton purchase
Informa's £1.2bn acquisition of Penton Information Services had been cleared by US antitrust authorities.
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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.