This Just In
Haarlem, The Netherlands—One of the most-watched acquisitions in the industry has finally reached a resolution: Valcon Acquisition BV has successfully acquired VNU NV. As of the May 19 acceptance deadline, 78.7 percent of VNU shares had been tendered, just under the 80 percent required for approval of the bid and enough to push the deal […]
Singapore – Las Vegas Sands Corp. was chosen by Singapore’s government Friday May 26th to build the Marina Bay Integrated Resort, a massive casino, hotel and convention complex designed to spur the nation’s trade show business. Sands’ winning $3.2 billion proposal includes 1.2 million square feet of flexible meeting, incentive, convention and exhibition space. The company […]
Amsterdam, The Netherlands – The chances of a successful buyout of VNU by Valcon Acquisition BV have increased now that the principle dissenter voiced support of the deal today. Previously, Knight Vinke Asset Management, which holds a 1.3 percent stake in VNU, had been urging shareholders to vote against two bids for the firm, claiming both […]
Chicago – Freeman and GES Exposition Services announced an agreement today with the Chicago Riggers Union that changes key rules governing crew sizes and overtime. The five-year agreement with Local 136 , effective June 1st, allows a significant amount of booth work to be performed with two-man crews rather than three. It allows contractors to start […]
New Orleans, La. —When New Orleans Mayor Ray Nagin announced new emergency procedures for the city, he said neither the Superdome nor Ernest N. Morial Convention Center would be a refuge of last resort. That will give a boost to the two facilities in their efforts to restore the trade shows, meetings and conventions sector […]
Amsterdam, Netherlands—Results of one of the most-watched acquisition bids were expected on May 4th. But when Valcon Acquisition upped its bid for VNU NV, the deadline for a decision was extended to May 19. The new bid increases the offer from EUR 7.5 billion to EUR 8.7 billion, including net indebtedness. It also lowers the […]
Chatsworth, CA – After actively seeking a buyer since October, 101communications LLC finalized its sale to 1105 Media Inc. on April 10th. Private equity firms Nautic Partners and Alta Communications are backing the new ownership group with Neal Vitale, who had senior executive roles at Petersen Publishing, Reed Elsevier, and Aspen Marketing Group. 101communications’ portfolio includes […]
El Segundo, CA – Active Interest Media Inc. (AIM) has acquired Yachting Promotions Inc. of Fort Lauderdale, in a move that marks AIM’s entrée into boating events. Yachting Promotions (YPI) produces and manages five annual boat shows, including the Fort Lauderdale International Boat Show, the largest in-water boat show in the world. YPI operated as a division […]
Charlotte, NC – For most sectors of the exhibition industry, 2005 was a good year. Despite the challenges that continue to exist — corporate consolidation, rising energy prices, concerns about increases in inflation or slow downs in the housing market — the third and latest edition of the CEIR Exhibition Industry Index Report (CEIR Index) suggests that continued […]
Shareholder Opposition May Hold Out for Company Split Instead Amsterdam, Netherlands — During a late meeting this past Wednesday, the supervisory and management boards of VNU NV, the Dutch media and information company, agreed to accept a EUR 7.5 billion ($8.9 billion) buy-out from a consortium of six companies. The consortium is controlled by a private-equity […]
