Informa Share Discussion Threads

[inki] 17/7/2008 21:26

Markie7 - while your sentiments are understandable, TMN and INF are in different leagues - as would be the prospective suitors. INF is over 100 times the market cap of TMN. Sometimes for the big league it is easier to justify a larger purchase than a smaller one. At least I hope so. There does not seem to be any real news out there, so perhaps it is market makers getting nervous.

[markie7] 17/7/2008 16:51

hmm, TMN deal was pulled today. that won't help

[a2584728] 17/7/2008 15:49

That was interesting I changed my boxers 3 times!!!!!!!!! That is a shake to hit to Stops and shake the weaker holders out.

Its a done deal...............I hope lol.

[the_doctor] 17/7/2008 15:45

They spiked it down the other day too - often seems to happen just before news, so could be either: bid off, or bid coming!

[value viper] 17/7/2008 15:42

maybe it got whacked to allow in some buyers...trigger some stops etc.....hmmmm......funnier things have happened. i shat myself anyway.

[25cent] 17/7/2008 15:40

Maybe, but maybe the market got spooked by the sudden drop, bought back 1/3rd of holding at 395.

[inki] 17/7/2008 15:12

Someone knows something
Insider dealing - It never exists, thats why the FSA/Stock exchange never prosecutes anyone !!!

[25cent] 17/7/2008 15:03

Out at 422 minus 3 looks like the bids off?

[a2584728] 14/7/2008 12:15

Well the market usually knows when these things are coming.

[25cent] 14/7/2008 10:56

That was some mightly spike up,wonder if news is coming?

[a2584728] 14/7/2008 08:24

Ken I think I agree with you.

[25cent] 14/7/2008 08:18

Looks like you may be right ken.

[kenmill] 11/7/2008 17:23

May make it more likely. Nothing like lowering shareholders sights for getting it at the price you want

[25cent] 11/7/2008 16:38

Has the markets in freefall killed this deal off?

[a2584728] 09/7/2008 15:52

Apparently the bid will be accepted and the cash is in place.

[kenmill] 07/7/2008 15:20

They may not dismiss it but I think they will force it up a bit to at least 525p. I agree that 630p is not an option now

[25cent] 07/7/2008 12:55

I doubt the large shareholders will dismiss the 506p bid,times have changed since the 630p bid days.

[a2584728] 04/7/2008 11:35

I understand that funding (the reason for the price not reaching the bid level) was pre-approved.

The bid level is below the 550p that the copmpany would accept and as such expect a dismissal of the bid very soon.

[spob] 02/7/2008 10:58

506p

nice one

just bought these back yesterday :)

[the_doctor] 02/7/2008 10:14

The drop yesterday was clearly those in the now collapsing it to grab cheap stock! Crooks.

[kenmill] 02/7/2008 08:44

I think they may have to . I doubt the Board will recommend 506p when they rejected 630p

[value viper] 02/7/2008 08:14

slightly perplexed why this isnt alot higher - presume PE groups can just go hostile if mgment don't engage them...........

[kamitora] 02/7/2008 06:32

Informa, the exhibitions group, has received an approach from a private equity consortium led by Providence Equity, valuing the company at £2.15 billion.

In a statement after the market closed last night, Informa confirmed that the consortium, which also includes The Carlyle Group and Hellman & Friedman, had made a preliminary 506p per share bid on 26 June – a healthy 32 per cent premium on Informa's closing shareprice yesterday.



Informa, the business-to-business media group, has received an approach from a consortium of US private equity firms valuing the company at around £3.4bn, including debts. The Lloyd's List publisher said last night it had received "a proposal" on June 26, pitched at 506p per share.

[spob] 01/7/2008 11:50

FT Alphaville


PMlet's get this bid stuff out of the way.PMGoing to stick out necks RIGHT OUT this morning on this one.NHHmmm. But it is NOT raw.PMThat's right. This is cooked . In fact it is marinated,cooked, cooled down and then re-heated .NHSo there is still a risk with it – but we are pretty well certain that the following is accurate.PMCouple of weeks ago we published this:PM was detailing the planning for a £2.34bn bid for Informa by Providence Equity – US buyout house.PMWe said it was likely to be pitched at above 500p. The market generally blew a raseberry at us – suggesting no one could put together the accompanying £1.8bn debt package in this market.NHNow the idea of a bid has all but evaporated this morningPMJust take one glance at Informa's price -- down 32 at 380NHthat's a fall of almost 8%PMstocks don't usually fall 8 per cent unless the bidder has walked away.NHBut that is not the case herePMWe are going to bet the ML proverbials that the market is calling this wrong.PMNHof course if the Dow plunges 400 points tonight, all bets could be offPMYepNHbe as of earlier this morning we think the following holdsPMGive 'em detail Neil.NHOkay.NHPE team consortium now firm consists of Providence Equity (Gus Schwed), Hellman Friedman (Patrick Healy) and Carlyle Group (Frank Falezan)PMI said detail Neil!NHWot – ive given you the name of the individuals leading this!PMIt's not just "Carlyle" – it's the CEP III Participation fund.NHOkay – when the led provider of finance here is ING, but Goldman Sachs are also on the case.NHThe PE consortium first put 485p on the table – which we assume caused United Business Media to walk away from its own merger plan with Informa.PMYep – and then they had a meeting last week.NHLast Thursday I think – this is the PE boys, Informa management.PMAlong with Greenhills and JPMorgan.NHSimon Burrows and James Seagrave.NHAfter that meeting, the PE consortium CONFIRMED that it was ready to offer in excess of 500p.PMFive quid plus – but conditional on due diligence.NHWhich the PE team reckon will take three weeks.PMNow – question – If you are the management of Informa and you have got a firm offer of 500p or more....PMAnd your market price is in the region of 380p....PMHow can you turn down the bid??NHWell you can't – in fact you would rush to make sure it is still on offer.PMWhich we understand it is.NHThis deal is ready to go. We know that on the PE numbers they can afford up to around 550p and still get an IRR of 20%PMThey are telling Informa that they expect to make annualised cost savings of £30m – but the real number is probably significantly higher.NHThey are telling Informa that they expect to make annualised cost savings of £30m – but the real number is probably significantly higher.PMSo, don't blame us if this deal gets Crunched – but a market price of 385p is just wrong, in our humble (educated) opinion.NHI can quite see why the market does not believe this givem Informa's debt leveNHbut these talks are very realNHand an offer of just over 500p has been put to the board of InformaNHlast weekPMAnd i think they have put it in writing to Derek MappinNHthe chairmanNHof course the deal could be crunched at any pointPMif that is the spellingNHbut as we understand it, this deal was full steam aheadPMSorry -- that should have been Derek Mapp, chairman of InformaNHbut look everyone, the market is incredibly volatile at the momentNHand deals could get pulled at moments noticePMsureNHbut there seems little reason to doubt the seriousness of the PE biddersPMnone at allPMOkay -- think we have stuck our neck out as far as it will go on that one.PMLet's move on