Investors in UBM (UBM) cheered as the events titan completed its £490m sale of PR Newswire and management earmarked the payment of the planned £245m special dividend for 08 July. Although UK competition regulators are considering the transaction and buyer GTCR's proposed concessions, UBM should be in the clear.
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The disposal makes UBM a dedicated events group and give it extra fire-power for more acquisitions. It recently snapped up Business Journals - which puts on fashion trade shows in New York and Las Vegas - and Content Marketing Institute, the organiser of a leading content marketing event.
