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Informa inks deal to buy rival for $3.9bn

Shares in Informa are up 0.5% after it inked a deal to buy rival events and media company UBM for $3.9bn.

The tie-up is designed to create a world leader in events, and comes almost a decade after UBM tried to buy Informa.

Informa chief executive Stephen Carter said the deal would create at least £60m of cost savings a year after the businesses were integrated by 2019.