Informa acquires Penton for US$1.56bn

The deal, part of Informa’s growth acceleration plan, would help the company generate nearly half of its annual pro-forma revenues from the US.

Informa’s shares were up 2.95 per cent at 714 pence at 07:07 GMT on the London Stock Exchange.

Penton ()

The transaction will be funded by a combination of new debt and equity, including a fully underwritten rights issue to raise £715m, the company said.

The acquisition, expected to close in November, would add to the company’s earnings in the first full financial year since completion, the company said.

Source: Reuters

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