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Article Excerpt
M2 PRESSWIRE-2 November 2006-Afternoon Movers: Penton Media Announces Merger with Prism Business Media(C)1994-2006 M2 COMMUNICATIONS LTD
RDATE:02112006
Penton Media, Inc. operates as a business-to-business media company. The company provides media products that deliver business information to owners, operators, managers, and professionals. Penton Media publishes trade magazines, print and online industry directories, and buyers' guides; produces trade shows, conferences, and roadshows; and provides Web sites, electronic newsletters, Web conferences, and other Web-based media products
Shares are up by 28% on a volume of over 3 hundred thousand on Thursday. Today's momentum comes as Penton Media, Inc. (OTCBB:PTON) announced that its board of directors has approved a definitive agreement pursuant to which Prism Business Media Holdings, Inc. will acquire 100% of the capital stock of Penton in an all-cash transaction for aggregate consideration of $194,200,000. The total value of the transaction, including the assumption or repayment of the expected debt at closing, is approximately $530,000,000.
Market Gainer is quickly emerging as...
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