The big B2B merger was not to be…United Business Media (LSE: UBM) and Informa have ended merger talks, the two companies notified today. They said the talks between them remained at a very prelim stage, and never moved beyond it…wonder if the stories about UBM actually buying Informa instead of a merger, and possibly replacing the latter’s CEO had anything to do with the ending of talks. UBM still remains interested, it seems. From its statement: “UBM remains of the view that a merged company could deliver significant benefits to both UBM and Informa shareholders, provide enhanced services to its customers, and could become the employer of choice in the global business media market. However, the board has been unable to agree terms with Informa that would be in the best interests of UBM shareholders. Discussions between UBM and Informa have therefore ceased.”
But Informa said it has received more interest. “It has received a further approach from a third party that may or may not lead to a takeover offer in cash being made for the company”. UBM was advised by Merrill Lynch and Informa by Greenhill & Co Inc.