15 September 2016
- Steven Fox, Benjamin Sibbett, Timothy Cornell, Michael Bates, John Connolly, Howard Adler, Philip Wagman, Sonia Gilbert, Nick Mace, Katherine Moir, Nicholas Newman, Christine Kim
- London, New York
Clifford Chance advising Informa on a proposed $1.558 billion acquisition of Penton Business Media Holdings
Clifford Chance today announced that a cross-border team of lawyers in New York and London is advising Informa PLC on its acquisition of Penton Business Media Holdings from MidOcean Partners and Wasserstein & Co.
Under terms of the agreement, Informa will acquire Penton for $1.558 billion (£1.18 billion), subject to customary adjustments, with the acquisition to be funded through a combination of both debt and equity, including a fully underwritten £715 million rights issue. The transaction is expected to close before the end of 2016.
The transaction team for Clifford Chance was led by Corporate partners Benjamin Sibbett in New York and Steven Fox in London, with support from fellow partners Tim Cornell (Antitrust, Washington), Michael Bates (Finance, London), John Connolly and Robert Trefny (Capital Markets, London), Howard Adler and Philip Wagman (Tax, Pensions & Employment, New York) and Sonia Gilbert and Nick Mace (Tax, Pensions & Employment, London) and Katherine Moir (Corporate, London).
This matter represents the most recent instruction for Clifford Chance by Informa. The Firm previously advised Informa on the sale of its Corporate Training ("PI") business in the US in 2013; its re-domiciliation to and re-listing in London in 2014; and the acquisition of Hanley Wood Exhibitions in the US in 2014.