Jul 26, 2024 - Business

Informa to acquire owner of Cannes Lions and Money20/20 conferences

Kia Kokalitcheva

Illustration of a ticket stub with cash symbols printed on it — Illustration: Lazaro Gamio/Axios

Informa has agreed to acquire Ascential, the owner of the Money20/20 and Cannes Lions conferences, for about £1.2 billion ($1.5 billion) in cash.

Why it matters: While the media industry is still struggling to squeeze revenue from advertising, live events are a bright spot.

Zoom in: Informa will pay Ascential investors about £5.68 per share, a 53% premium to the its closing share price on Monday.

Informa said it will help expand the Money20/20 conference into the Middle East and Africa to take advantage of investor interest.

The bottom line... via the FT: "Ascential is one of the few remaining events companies of any scale. Analysts at Peel Hunt said Ascential's events were 'prestigious ones, with longevity of growth, which should merit a premium valuation.' Analysts at MKP Advisors said there was unlikely to be any counter offers: 'Informa management has a good track record in dealmaking and is likely to get the benefit of the doubt to deliver on any M&A deal.'"

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Informa to acquire owner of Cannes Lions and Money20/20 conferences

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