Providence group seen in bid approach to Informa
18/06/2008 08:08
LONDON (Reuters) - A private equity consortium led by
Providence Equity is behind the latest bid approach to media
group Informa
, the Times newspaper said on Wednesday.
The paper, without citing sources, said private equity firm
Carlyle was also part of the consortium and that talks were at
an early stage.
Informa said on Tuesday talks over a possible merger with
United Business Media had ended, but it had received a
further approach from a third party it did not identify.
The Financial Times said Providence had been in informal
talks with Informa but no offer had been made and no bid was
likely above 500 pence a share.
Informa shares closed at 470 pence on Tuesday, valuing the
business at about 1.86 billion pounds ($3.7 billion).
None of the parties could be immediately reached for
comment.
(Reporting by Mark Potter, editing by Will Waterman)
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