2005: IIR Holdings Acquisition
Informa acquired IIR Holdings Ltd on 7 July 2005.
The propsed acquisition was announced on 1 June 2005, comprising a cash consideration of US$1.4 billion (£768 million). At the same time, Informa announced a two for five Rights Issue to part finance the transaction, where the remainder was financed by a new committed debt facility of £1,250 million.
The Rights Issue was priced at 265 pence per new ordinary share, a discount of approximately 35% to the closing middle market price of 407 pence on 31 May 2005. 122,046,508 new ordinary shares were offered, raising £311 million net of expenses.
Shareholder approval was attained on 30 June 2005 for the acquisition, which was finalised on 7 July 2005.
Proposed Acquisition of IIR – EGM results (pdf) [78kb]
Proposed Acquisition of IIR and Rights Issue (updated circular to shareholders) (pdf) [500kb]
Completion of Acquisition of IIR (press release) (pdf) [73kb]