Informa breaks off talks with Cinven and Candover

Mark Herlihy, Informa Ends Buyout Talks, Says Bid 'Undervalues' It, Bloomberg, November 3, 2006.  Excerpt:

Informa Plc...ended talks with buyout firms Cinven Ltd. and Candover Investments Plc, saying their offer "significantly undervalues'' the company.

Springer Science & Business Media, whose main shareholders are Cinven and Candover, offered 630 pence per share, London- based Informa said today in a Regulatory News Service statement. Informa said it's terminated discussions with the bidders.

The rejection of the offer may not be the end of the deal, Lorna Tilbian, an analyst at London-based Numis Securities said in a telephone interview. Informa did not initiate the talks and were unwilling sellers, she said....