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UBM pays $972M for Advanstar

Oct 01, 2014 - The Deal Pipeline
Mergers and Acquisitions

British events and communications companyUBM plc announced an agreement on Wednesday to acquire California-based events and trade show organizer Advanstar Communications Inc. for a total of $972 million, to become the top events organizer by revenue in the United States.

The sellers are Anchorage Capital Group LLC, Ares Management LLC and Veronis Suhler Stevenson, which own the business through their holding vehicle Advanstar Global LLC.

Advanstar CEO Joe Loggia will continue to man...