Informa considering $4.3 bln private equity bid

02/07/2008 16:12

LONDON (Reuters) - Events organiser and publisher Informa is considering a 2.15 billion pound bid approach from a consortium of private equity firms, sending its shares 10 percent higher on Wednesday.

Informa said in a statement that Providence Equity LLP, The Carlyle Group and Hellman & Friedman had made a bid proposal of 506 pence a share on June 26.

"Discussions continue to be at an early stage and there can be no certainty that an offer will be made," it said.

Informa shares were 10 percent higher at 416 pence by 9:20 a.m., still well below the proposed takeout price.

When news emerged last month that the equity firms were working on a bid for the media company, the shares showed only modest gains as analysts questioned whether a deal would succeed in the current tight credit markets.

Informa, publisher of the maritime publication Lloyd’s List, has a market capitalisation of around 1.9 billion pounds and had 1.2 billion pounds of debt as at the end of 2007.