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Informa suitor walks away
This week's unprecedented financial turmoil has claimed its first major non-financial victim with news that the consortium of private equity companies stalking media group Informa have walked away as the funding for the £1.9bn offer disappeared, reports the Guardian..
In a statement Friday morning the consortium - comprising Providence Equity Partners, Carlyle and Blackstone Group - said it "has decided to withdraw its proposal" following the Informa board's rejection of its offer two weeks ago. The consortium also cited "a material change of circumstances" as one of the reasons behind its decision.
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