(Bloomberg) -- Financial news and information business Euromoney Institutional Investor Plc is discussing a £1.56 billion ($1.91 billion) takeover approach with a private equity consortium, it said Monday.
The £14.61 per share offer from Astorg Asset Management Sarl and Epiris LLP came after four earlier offers, the company said. The suitors are required to lodge a firm offer or withdraw by July 18 according to UK takeover rules.
Euromoney sells subscriptions to financial professionals and also runs events. The Daily Mail group previously held a large stake before spinning it out in a shareholder distribution in 2019.
In 2018 Epiris bought the magazine chain Time Inc. UK, renaming it TI Media, before flipping it to Future Plc one year later.
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