Informa confirms 506p Providence approach

LONDON (ShareCast) - Exhibitions group Informa (LSE: INF.L - news) confirmed that it has received a 506p proposal from a private equity consortium led by Providence Equity.

Informa said the consortium, which also includes The Carlyle Group and Hellman & Friedman, had made a preliminary 506p per share bid on 26 June.

The proposed price assumes that no dividends or other distributions are declared and paid subsequent to the final dividend for the year ended 31 December.

"Discussions continue to be at an early stage and there can be no certainty that an offer will be made," said Informa in a short statement.

"This announcement is made without the approval of the Consortium and therefore there can be no certainty as to the terms as to which any offer will be made," it added.

Source:http://uk.biz.yahoo.com/080702/214/i2nxa.html