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Informa - Aborts Springer aquisition

January 2010

Investing in shares may lose you all or some of your money. Past performance is no indication of future performance. Some of the shares recommended here may be small company shares, which can be relatively illiquid and hard to trade and this makes such shares more risky than other investments.

  • Epic Code:
  • INF
  • Price:
  • 288p
In a rare act of shareholder activism, institutional investors ganged up to persuade Informa's management not to go ahead with the acquisition of German rival Springer (a deal that would have cost c. £2.2bn including debt and would inevitably have led to another large rights issue). One insto was even quoted as saying “it had borne a lot of pain and wanted to suffer no longer.†The end of this distraction is well-timed as its trading update covering the 10 months to 31 October was reassuring. Informa's publishing arm (70% group profits) remains resilient and within that, its academic division has seen good early indications for subscription renewals in 2010. Meanwhile, its events and training side has not experienced a worseni ...

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