LONDON (dpa-AFX) - Euromoney Institutional Investor Plc (ERM.L), a British business and financial information company, confirmed Monday that it has received an approach from Astorg Asset Management S.àr.l and Epiris LLP, a consortium, regarding a possible cash offer for Euromoney of 14.61 pounds per Euromoney share.
The company issued the update following recent media speculation.
Euromoney said the proposal is subject to, amongst other matters, completion of confirmatory due diligence. The offer will not be adjusted for the payment of the interim dividend of 6.1 pence per Euromoney share that was announced in May and will be paid on June 24.
The proposal follows earlier approaches from the Consortium to the Board regarding a possible all cash offer for Euromoney at 11.75 pounds, 12.50 pounds, 13.10 pounds and 13.50 pounds per Euromoney share.
The company said its Board is engaged in discussions with the Consortium regarding the proposal. There can be no certainty that an offer will be made nor as to the terms on which any offer might be made.
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