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Euromoney, Becketts Bidco Reach Agreement On Terms Of Recommended Cash Offer

The boards of Euromoney Institutional Investor PLC (ERM.L) and Becketts Bidco have reached agreement on the terms of a recommended cash offer to be made by Bidco for the entire issued and to be issued ordinary share capital of Euromoney. Astorg and Epiris are joint offerors with respect to the acquisition, and have formed Bidco for the purpose of making the acquisition. The Euromoney Directors plan to recommend unanimously that shareholders vote or procure votes in favour of the Scheme at the court meeting and the resolutions to be proposed at the general meeting.

Each Euromoney shareholder will be entitled to receive: 1,461 pence in cash per Euromoney share· The acquisition values the entire issued and to be issued ordinary share capital of Euromoney at approximately 1.606 billion pounds on a fully diluted basis and values Euromoney at approximately 1.661 billion pounds on an enterprise value basis.

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