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’Snap news
Breaking pre-market news on Tuesday,
- Deutsche Bank says needs moderate capital market refinancing in 2010, overall loan loss provisions expected to decline in 2010 – Reuters
- “We have heard nothing that surprises us”:
Leverage and the Lloyd’s List
Here’s a blast from the past.
Remember Informa, publisher of the Lloyd’s List and The Earthmover & Civil Contractor Magazine?
The last time Alphaville wrote about the company it was the subject of a leveraged takeover bid from a private equity consortium,
Informa eyes deal for Springer
Informa, publisher of Lloyd’s List, has held talks with its rival Springer Science and Business Media over buying the German academic publisher whose private equity owners are looking to sell the whole business at a reduced valuation.
Snap news
Breaking pre-market news on Friday,
- US bank stress tests delayed, moved from May 4 to possibly end of next week, sources say — Bloomberg.
- Informa to raise £242m via rights issue, change corporate structure — statements.
Lending market woes imperil M&A deals
Paralysis in the bank lending market is threatening some of the world’s largest potential takeovers, as investors watch to see whether the proposed $700bn US financial rescue plan can stop certain transactions from falling apart.
Consortium’s move for Informa collapses
The private equity consortium led by Providence Equity Partners walked away from a deal with Informa, the publisher of Lloyd’s list, after the consortium’s lending banks were unable to finance an increased bid amid the global financial crisis.
Details emerge of Informa bid
The cut in the offer price for UK publishing group Informa was driven by Blackstone, as the private equity group flexed its muscles when it joined the consortium bidding for Informa last month. The FT has learnt that Providence Equity and the Carlyle Group were considering a bid at about 475p but Blackstone considered it too high and drove it down to 450p,
Informa rejects consortium offer
The board of Informa on Thursday rejected its second offer in two years, turning down a 450p approach from a private equity consortium led by Providence Equity Partners, saying the price “significantly undervalued”
Snap news
The latest on Thursday,
- RAB Capital announces appointment of Stephen Couttie (formerly COO) as CEO – statement.
- Provident, Carlyle confirm that Blackstone will also be participating in Informa bid consortium – statement.
Blackstone in talks over Informa bid
Private equity firm Blackstone is in talks to team up with rivals Providence and Carlyle to mount a joint bid for Informa, publisher of Lloyd’s List, reports the Daily Telegraph. The talks come as Providence and Carlyle move to secure the financing for the takeover.
Dubai fund, Blackstone, pursue Informa
A Dubai sovereign wealth fund has teamed up with Blackstone and others aiming to buy Informa from under the noses of a rival private-equity consortium, reports the FT. Providence Equity Partners, Carlyle and up to recently,
Snap news
The latest on Monday:
- BAE Systems makes £531m all cash offer for Detica – statement, offer.
- BAA receives lender approval for debt restructuring – statement
- Unilever sells North American laundry business to Vestar Capital partners for $1.1bn – statement
- Dawnay,
Informa eyes up £3.4bn deal
Informa has received a tentative 506p-per-share approach from a buyout consortium which would value the UK trade fairs and scientific journals business at £3.4bn including debt, the company said Tuesday night.
Goldman lined up to fund Informa bid
Market sceptics have done a pretty good job of talking down the price of publishing and exhibitions group Informa after rival United Business Media terminated merger talks earlier in the week. Down 9 per cent on Wednesday,
Informa slides on bid finance fears
Shares in Informa fell almost 9% on Wednesday after talks between Informa and rival UK business publisher UBM collapsed and investors expressed doubts about the ability of private equity suitors to finance a bid for Informa.
New bidder emerges for Informa
Talks on a merger between UK media groups United Business Media and Informa collapsed Tuesday after Informa said it had received an approach from a third party, thought to be a private equity bidder or bidders,
Buyout groups circle Informa
Investors on Monday greeted news of a proposed merger between United Business Media and Informa as a credible combination of two complementary business media groups. Shares in UBM rose 2% to 618p Monday while Informa’s shares shot up 13.3% to 437½p as investors bet the nil-premium proposal may flush out a private equity offer.
UK’s Informa, UBM in merger talks
Informa, the Lloyd’s List publisher, has received a merger approach from United Business Media which has suggested an all-share merger to create a £3bn business publishing group – a move that could also flush out rival bidders.
Datamonitor accepts £513m bid
The high current valuations of business publishers were underlined when Informa, the information and events group, made a recommended £513m cash offer on Monday for Datamonitor, its smaller rival. Informa has agreed to pay about 18.6 times what analysts forecast Datamonitor will make in earnings before interest,