The two boards have recommended the merger to their shareholders, who will have an equal stake in the new company, which will be known as Bulletin Group. Shares in both companies rose on yesterday's announcement and analysts reacted positively.
Bulletin Group's board will have equal representation, giving each company four seats. Wilmington's chief executive Charles Brady will be chief executive and Metal Bulletin chief executive Tom Hempenstall will be executive chairman.
Brady said: "We will generate increased revenue and will have a well-balanced portfolio, capable of taking advantage of a wider range of economic conditions. Our increased scale will stand us in good stead for further consolidation in our professional and business markets."
Wilmington is focused on the legal, health, music and construction industries and Metal Bulletin provides news and data for the commodities and financial industries.
The two are headquartered in London and have offices in the US and Singapore. Metal Bulletin also has offices in Brazil, Canada and China and Wilmington in France and Australia.
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