Global business events company, UBM, was up in early trading on Wednesday after the announcement of a £3.8bn offer from rival Informa. UBM’s share price jumped +12.71% at 9:04 AM GMT.
Informa which is a global B2B events, business intelligence and academic publishing company, saw its share price fall -8.24% at 9:05 AM GMT.
The events giant said UBM shareholders would receive 1.083 Informa shares and 163p in cash for every UBM share - a 30% premium on UBM’s 15 January closing price.
The proposed deal would create a leading B2B Information Services Group and address an industry trend towards increased operating scale and industry specialisation.