City sets Informa deadline

<p>The private equity consortium attempting to buy Informa have been ordered by the City&#39;s Takeover Panel to reveal their intentions by 26th September, reports the Times.</p><p>Last week, Informa rejected a reduced 450p a share offer from the consortium, consisting of Providence Equity, Carlyle and Blackstone, which the publishing group believed significantly undervalued the company. The consortium, which had previously proposed an offer of 506p per share, responded by saying it was disappointed by the quick rejection of its proposal.<br /><br />Sources close to the private equity bidders said the consortium would have difficulty coming back with an offer high enough to satisfy the board. <br /></p>