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Byline: Phil Jones
Springer leaps on Informa
Phil Jones
Scientific, technical and medical (STM) publishing group Springer has made an approach for Taylor & Francis parent Informa -- the STM and business publisher. The move is likely to have been made by Springer's principal shareholders -- private equity groups Candover and Cinven.
Informa confirmed the approach, reporting that the rival group has made a "highly preliminary approacha[bar] regarding a possible offer for the entire share capital of the company". It added: "Discussions are at an early stage and, consequently, there can be no certainty that an offer will be made."
Informa confirmed the approach after recent press speculation and said that a further announcement would be made in due course.
Candover and Cinven confirmed to financial newspapers that they were working with investment bank UBS on the deal proposal and have debt financing from Barclays Bank in place.
Source: HighBeam Research, Springer leaps on Informa.