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Informa/Taylor & Francis Propose Merger



Of possible interest, from:

<http://www.ppa.co.uk/>

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04 March 2004

Informa and Taylor & Francis announce �1.1bn merger

Informa Group and Taylor & Francis Group have announced a proposed merger,
worth approximately �1.1bn, to create T&F Informa, an international
company specialising in the provision of specialist information through
its combined publishing and events businesses.

Informa Group is an international high value business information and
content provider, while Taylor and Francis Group is an international
publisher of specialist academic, scientific and professional books and
journals.

The management board of T&F Informa will include senior executives from
both companies. The chairman will be David Smith, chief executive of
Taylor & Francis, while Peter Rigby, chairman of Informa, will be chief
executive and David Gilbertson, chief executive of Informa, will be
managing director.

Peter Rigby, chairman of Informa, said: "The merger of Informa and Taylor
& Francis will create an exciting new force in specialist information.  
Both companies performed well in 2003 and are coming together from
positions of strength at a time when there are significant opportunities
for enhanced future growth. The new group will be better placed to capture
and exploit this growth. The combined new management team has the
experience to build on the existing platforms to create a strong and
resilient business that will be a major industry player over the next few
years."

David Smith, chief executive of Taylor & Francis, said: "The merger brings
clear benefits to both companies. Most importantly, we will generate
increased revenue and will have a well balanced portfolio, capable of
taking advantage of a wider range of economic conditions. Our increased
scale will stand us in good stead for further consolidation in our
professional, academic and business markets. Taylor & Francis and Informa
have grown consistently through a mixture of organic growth and well timed
acquisitions. This remains our touchstone and the opportunities for the
new group are considerable."

Existing Informa and Taylor & Francis shareholders will hold approximately
51 per cent and 49 per cent respectively of the enlarged issued share
capital of T&F Informa, based on the current issued share capitals of
Informa and Taylor & Francis.

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