Penton Media Announces Merger With Prism Business Media
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Penton Media Inc. announced yesterday that its board of directors has approved a definitive agreement in which Prism Business Media Holdings Inc. will acquire 100 percent of the capital stock of Penton in an all-cash transaction valued at approximately $530 million.
“This transaction delivers outstanding value for all of Penton’s stockholders,” said David Nussbaum, Penton’s CEO. “The combination of Penton and Prism will create a company with the capital structure, talent and infrastructure to continue on a very strong growth path.”
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