Informa Plc has agreed to buy Ascential Plc, the owner of the Money20/20 and Cannes Lions conferences, for about 1.2 billion pounds ($1.5 billion) to expand its event management business. This is stated in the Informa message.
Informa will pay Ascential investors about 568 pence per share. This is 53% higher than the company's share price at the close of trading on July 22, 2024. The transaction, which has yet to be approved by shareholders, is expected to be completed in the fourth quarter of 2024.
Informa said it plans to help expand the Ascential conference brands and will help host the Money20/20 conference in the Middle East and Africa.
Informa holds conferences, exhibitions and training courses all over the world.
More news is on the Telegram channel "Mergers and Acquisitions. AK&M».
