Informa shares rise as takeover approach confirmed

LONDON - Shares in Informa, the Lloyds List publisher and exhibitions company, have rocketed in value by over 10% this morning after it confirmed it had received a takeover approach.

The company said that a consortium comprising Providence Equity, The Carlyle Group and Hellman & Friedman had proposed an offer of 506p a share for Informa.

Shares in the company were trading at 425p, which is 47p above yesterday's close -- a rise of 12%. However, this is below the price shares hit last week on initial speculation about a deal.

In a statement to the Stock Exchange, Informa said: "Discussions continue to be at an early stage and there can be no certainty that an offer will be made."

Informa and rival business media company UBM called off talks about an all-share merger in June.

UBM had made the approach but found itself priced out of a deal when interest from private equity in Informa propelled its share price upwards.

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