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,
26.33%
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 [email protected]
