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Date: Thursday 04 Sep 2008

LONDON (ShareCast) - Informa revealed late Thursday it has rejected a reduced 450p a share offer from a private equity consortium that “significantly undervalues” the publishing group.

A group made up of Providence Equity, The Carlyle Group and Hellman & Friedman, had proposed a 506p a share cash bid back in June.

The consortium was joined today by Blackstone but Hellman & Friedman pulled out.
Rumours were rife all day that a lower bid was being prepared as market conditions have continued to deteriorate.

The shares closed down almost 8% at 414.5p, although they were trading below 400p this morning.

But Informa said it remains confident about prospects for the full year and confirms that current trading is in line with its own expectations.

“Informa has attractive future prospects and is continuing to deliver growth across the business even in the face of a weaker economic environment,” said chairman Derek Mapp.

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