Euromoney likely to be broken up if deal to buy group is successful

Euromoney is likely to be broken up if a deal to buy the media and events group is successful, say City sources. 

The FTSE 250 firm said last week it was in talks with private equity firms Astorg and Epiris. 

Negotiations: Euromoney said it was in talks with private equity firms Astorg and Epiris

The announcement was prompted by revelations in The Mail on Sunday that the company had been approached. 

Shares rose 26.1 per cent to £13.80 on Monday after it said it had received a possible cash offer of £14.61 per share, valuing the business at around £1.6billion. 

Other private equity firms have considered making offers since the announcement, sources said. 

Argus Media, backed by buyout groups Hg and General Atlantic, is also seen as a possible bidder. 

One source said it eyed the firm in 2020 and 2021. 

But the approach by Astorg and Epiris values Euromoney at 15 times its earnings before interest, tax, depreciation and amortisation – a ‘fairly full price’, two of the sources said. Euromoney, Hg, GA and Argus Media declined to comment.