United Business Media buys US firm for $287m

first_img Show Comments ▼ whatsapp United Business Media buys US firm for $287m whatsapp BRITISH events and publishing group United Business Media (UBM) has agreed to buy US tradeshows company Canon Communications for $287m to boost its presence in the medical sector and emerging markets.UBM said yesterday the acquisition – the company’s largest since chief executive David Levin joined five years ago — would make it the leading provider of tradeshows and related media for the medical-device design and manufacturing markets.UBM’s investors reacted positively to the deal. “The strategic fit looks good,” said a broker at Numis Securities, who kept a “hold” rating on UBM shares. “This implies last-twelve-month multiples of 2.7 times sales and 7.8 times EBITDA,” UBS analyst Alastair Reid wrote in a note. In the 12 months to 30 June, Canon generated $106m in revenues and it had earnings before interest, tax, depreciation and amortisation (EBITDA) of $37m.UBM is buying Canon from Spectrum Equity Investors and Apprise Media.The company said it expected the takeover to boost earnings per share by nine per cent in the first full-year of ownership. Share Thursday 16 September 2010 8:42 pm KCS-content More From Our Partners Astounding Fossil Discovery in California After Man Looks Closelygoodnewsnetwork.orgFlorida woman allegedly crashes children’s birthday party, rapes teennypost.comA ProPublica investigation has caused outrage in the U.S. this weekvaluewalk.comBrave 7-Year-old Boy Swims an Hour to Rescue His Dad and Little Sistergoodnewsnetwork.orgSupermodel Anne Vyalitsyna claims income drop, pushes for child supportnypost.comPolice Capture Elusive Tiger Poacher After 20 Years of Pursuing the Huntergoodnewsnetwork.orgRussell Wilson, AOC among many voicing support for Naomi Osakacbsnews.comNative American Tribe Gets Back Sacred Island Taken 160 Years Agogoodnewsnetwork.orgKiller drone ‘hunted down a human target’ without being told tonypost.comI blew off Adam Sandler 22 years ago — and it’s my biggest regretnypost.comBiden received funds from top Russia lobbyist before Nord Stream 2 giveawaynypost.com‘The Love Boat’ captain Gavin MacLeod dies at 90nypost.comUK teen died on school trip after teachers allegedly refused her pleasnypost.comInside Ashton Kutcher and Mila Kunis’ not-so-average farmhouse estatenypost.comWhy people are finding dryer sheets in their mailboxesnypost.comBill Gates reportedly hoped Jeffrey Epstein would help him win a Nobelnypost.com980-foot skyscraper sways in China, prompting panic and evacuationsnypost.comMark Eaton, former NBA All-Star, dead at 64nypost.com Tags: NULLlast_img read more

Ex-Citi man in insider probe

first_img Show Comments ▼ Share Ex-Citi man in insider probe Monday 31 January 2011 9:07 pm whatsapp whatsapp KCS-content A FORMER Citigroup hedge fund manager was the latest figure to be identified as a co-conspirator in the US authorities’ probe into insider trading yesterday.Samir Barai, a Citi managing director who founded Barai Capital Management in 2008, was the fund manager referred to in court papers who allegedly took inside information on technology stocks from 2006 to 2008, a Wall St Journal report said.Barai’s involvement is the first time a hedge fund manager has been implicated in the case, which is investigating whether technology firm employees passed information to funds. A number of employees have been arrested and charged but no hedge funds had been implicated until now. Barai has not yet been charged with any wrongdoing.Barai’s involvement centres on a complaint filed by the US Attorney in December, which charges a technology consultant, Winifred Jiau, with insider trading. Jiau was charged with sharing private information about companies including Marvell and Nvidia in a number of telephone conversations with a hedge fund manager. In two such calls made in May 2008, Jiau told hedge fund portfolio managers confidential information about Marvell’s quarterly revenues, margins and earnings per share, before the public announcement. But the recordings of those conversations were seized by US law enforcers after a raid on Barai’s offices, reports said.The complaint alleges that Barai’s firm made profits of more than $820,000 (£517,000) from the tips. Jiau received more than $200,000 from the funds as a consultant with an “expert networking firm,” Primary Global Research.Eight employees of the networking firm have now been arrested in the probe. Read This Next’A Quiet Place Part II’ Sets Pandemic Record in Debut WeekendFamily ProofHiking Gadgets: Amazon Deals Perfect For Your Next AdventureFamily ProofAmazon roars for MGM’s lion, paying $8.45 billion for studio behind JamesFamily ProofIndian Spiced Vegetable Nuggets: Recipes Worth CookingFamily ProofYoga for Beginners: 3 Different Types of Yoga You Should TryFamily ProofBack on the Rails for Summer New York to New Orleans, Savannah and MiamiFamily ProofChicken Bao: Delicious Recipes Worth CookingFamily ProofNew England Patriots’ Cam Newton says no extra motivation from Mac Jones’SportsnautCheese Crostini: Delicious Recipes Worth CookingFamily Proof Tags: NULLlast_img read more