LONDON: Informa PLC reached agreement on the terms of a recommended cash offer for the entire issued and to be issued ordinary share capital of Ascential Plc. Under the terms of the offer, each Ascential shareholder will be entitled to receive 568 pence in cash/share valuing the share capital of Ascential at approximately £1.2 billion on a fully diluted basis.
The cash offer represents a premium of approximately 53 per cent to the closing price of 371 pence per Ascential share on 22 July 2024 (being the last trading day before the commencement of the offer period).
Stephen A. Carter, Chief Executive of Informa, said: “Informa is in the business of creating, nurturing and growing world class B2B brands. Lions and Money20/20 are outstanding examples of such brands. Combined, we can expand them into more sectors, accelerate growth and take advantage of new opportunities.”
He added: “Informa has the operating platform and capacity. We have international reach into growth sectors. We have IIRIS, our First Party Data Platform, and we have an understanding of both the FinTech and Marketing sectors.”
“These strengths make us ideally placed to capture the growth and acceleration opportunities available to both Lions and Money20/20.”
Informa believes it is uniquely positioned to provide the global platform and operations to enable Ascential’s divisions to continue their strong growth trajectory. This includes the substantial support, investment and expansion that comes with being part of a broader operating group.
Philip Thomas, Chief Executive of Ascential, said: “I am extremely proud of all of Ascential’s brands, and the people who work so hard to deliver for them every day. Our two divisions, Lions and Money20/20, have transformed how our customers around the world experience events, and benefit from both digital intelligence and advisory services. The value our businesses bring to their respective industries is clear as is the regard in which they are held by Informa.
Informa is a highly respected business, famed for its expertise in B2B events, strong, ethical culture and commitment to innovation. This offer will not only deliver substantial value for our shareholders but also, together with Informa’s international footprint and extensive capabilities in data and analytics, will unlock further growth opportunities for our brands and our people.”