Shareholders Give Go Ahead for $5.5 Billion Informa Buy of UBM
April 17, 2018
After a shareholder vote today in which 99 percent voted in favor of approval, Informa’s $5.5 billion valued deal to buy UBM was given the greenlight, creating the largest trade show company in the world.
“We are encouraged by the strong support from shareholders of both companies for this combination, which will create a leading, international B2B Information Services Group,” said Stephen A. Carter, Informa’s CEO.
Under the terms of the offer, UBM shareholders will receive 1.083 Informa shares for each UBM share and $2.33 in cash.
Carter in an earlier statement said that shareholders would see strong growth and continued value from the merger.
“We will seek to operate with speed and purpose through an Accelerated Integration Plan that unifies management, combines our businesses and adopts a focused approach to Industry Specialisation,” he added.
Carter said, “This will ensure the Enlarged Group enters 2019 as a single business, with positive growth momentum and well-placed to deliver at least £60 million ($84 million) of annual recurring operating synergies."
The offer will result in Informa Shareholders owning approximately 65.5 percent of the larger company and UBM Shareholders owning approximately 34.5 percent.
The larger company will employ around 11,000 colleagues (approximately 4,500 in the Americas, 2,500 in Asia, 500 in EMEA and 3,500 in the UK), and will be a leading exhibitions business in the key growth markets of China and the U.S., further accelerating the opportunities that both Informa and UBM have been pursuing, according to company officials.
Shows under the new, larger group umbrella span from World of Concrete to MAGIC Market Week to WasteExpo to the Game Developers Conference.
Patrick Martell, Informa’s CEO of business intelligence, will lead UBM through the integration process until end of 2018.
Martell will report to Informa CEO Stephen Carter, who will be CEO of the combined company.
Martell will work closely with Charlie McCurdy, CEO of Informa's Global Exhibitions Division, Andrew Mullins, CEO of Informa's Knowledge & Networking Division, and senior operating management from UBM to develop the combined company’s operating model and management structure.
Current Informa Chairman Derek Mapp will be chairman of the combined company, and UBM Chairman Greg Lock will become deputy chairman.
Partner Voices
Dallas already boasts 35,000 hotel rooms, award-winning global cuisine, and a walkable downtown. But we are just getting started.
Visit Dallas is thrilled to announce that the city of Dallas is doubling down with a massive new convention center and entertainment district. Featuring 800,000 square feet of exhibit area, 260,000 square feet of meeting rooms, and 170,000 square feet of ballroom. The center will connect business travelers with dining and shopping options in the popular Cedars District means more places to get down to business, and even more ways to unwind.
“Dallas is already a great meetings and conventions destination, with the accessibility of two major airports, affordable labor, and an outstanding hotel product,” said D. Bradley Kent, Visit Dallas senior vice president and chief sales officer. “The new center and Convention Center District will enhance Dallas’ competitive position and are exactly what our customers’ need and have been asking for."
What’s New – AT&T Discovery District
Located in the heart of Downtown Dallas, this new district on the AT&T corporate campus is tailor-made for groups of all sizes. It boasts a multi-sensory experience, including outdoor event space, the AT&T Theater, and multiple dining outlets including JAXON Beer Garden and The Exchange, a bustling food hall.
Hotels Coming Soon
Names like the JW Marriott (Downtown), lnterContinental Dallas (Uptown), and Hotel Swexan (Uptown) are adding luxury amenities and bountiful event spaces. The projects will debut in 2023 and beyond.
JW Marriott
This new, 15-story, 283-room hotel will open in the heart of the city’s downtown Arts District this year. The property features a 25,000-square-foot grand ballroom, as well as a spa, restaurant, lobby bar, fitness center, and a rooftop pool deck and bar.
InterContinental Dallas
Located in Cityplace Tower in Uptown, InterContinental Dallas will feature sweeping panoramic views of the Dallas skyline. Guests will enjoy spacious, high-end rooms and amenities, including more than 21,000 square feet of event space.
Hotel Swexan
Hotel Swexan, a new, 22-story luxury property, is rising in Uptown’s Harwood District and will make its mark on the Dallas skyline. Opening this year, it is a sculptural building with cantilevered upper floors, as well as a 75-foot rooftop infinity-edge swimming pool and a hidden underground lounge.
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