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Friday, September 05, 2008

Informa Going Down

After months of speculation, private equity interest in Informa has materialised at a rather lower value than shareholders would have hoped, acccording to this interesting analysis by Peter Kirwan.

The standard thinking is that Informa is a solid B2B stock. It is a business with scale, it is not very exposed to advertising, has lots of events and subsctiption based activity and is a well managed beast. Even with all that in its favour valuations are softening.

Readers of this blog will not be surprised then, when the value placed on RBI which is smaller than Informa, is exposed to the advertising cycle, has little events and subs based activity drops in the second round of bids.

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