Private-Equity Bid for Informa Rejected

LONDON, September 5: Informa
has rejected a buyout offer from a consortium of the private-equity firms
Providence Equity, Carlyle Group and Blackstone Group, declaring that the 450
pence per share price “significantly undervalues” the company.

In late June, the
publishing group received a proposal from Providence Equity, The Carlyle Group
and Hellman & Friedman, offering 506 pence in cash. Following a period of
due diligence, Informa has received a formal offer from Providence, Carlyle
Group and Blackstone Group for 450 pence per share.

Rejecting the offer,
Informa’s chairman, Derek Mapp, stated: "The board believes that the
revised offer significantly undervalues Informa. Informa has attractive future
prospects and is continuing to deliver growth across the business even in the
face of a weaker economic environment. We have a first-class management team to
drive the business forward."

Peter Rigby, the CEO of
Informa, added: "Interest in Informa has demonstrated the attractiveness
of the company’s business model, the quality of its assets and people. The
business going forward is well positioned to grow and deliver value to shareholders.
The senior management team has clear focus and commitment to delivering our
2008 financial results and beyond."

—By Mansha Daswani