Latest News

Dow Jones Newswires: Euromoney Institutional Investor in talks to be bought for $2 billion

Euromoney Institutional Investor PLC said Monday that it is in talks with a consortium comprising private equity company Astorg Asset Management S.ar.l and Epiris LLP over a potential 1.6 billion pound ($1.96 billion) takeover.

The U.K. business-to-business information company said that it has received a number of approaches from the consortium, the latest of which was for GBP14.61 a share, a 34% premium to the company’s closing price of GBP10.94 on Friday.

The consortium had previously tabled proposals for GBP11.75, GBP12.50, GBP13.10 and GBP13.50 for each Euromoney share.

Euromoney
ERM,
+26.14%

said that it is in talks with the consortium, but cautioned that there is no certainty any deal will be struck.

The consortium has until July 18 to either make a formal offer or walk away under U.K. Takeover Panel rules.

Write to Ian Walker at ian.walker@wsj.com

What's your reaction?

Excited
0
Happy
0
In Love
0
Not Sure
0
Silly
0

You may also like

More in:Latest News

Leave a reply

Your email address will not be published. Required fields are marked *