Informa gets US green light for Penton purchase

20th Oct 2016 16:55

(ShareCast News) - Informa's £1.2bn acquisition of Penton Information Services had been cleared by US antitrust authorities. Following the recent approval received by Informa's shareholders for the US-based exhibitions and professional information services group, all US competition clearance processes under the Hart-Scott-Rodino antitrust act were completed on Thursday.The acquisition, part of the company's growth acceleration plan, is to be funded by a fully-underwritten £715m rights issue on top of existing cash.Informa said the transaction should complete in early November, with the results of a rights issue due to be announced on 26 October 2016, with dealings in rights issue shares beginning on the London Stock Exchange immediately afterwards.