Euromoney Institutional Investor to buy Info. Management Network.Euromoney Institutional Investor Institutional Investor A non-bank person or organization that trades securities in large enough share quantities or dollar amounts that they qualify for preferential treatment and lower commissions. (London) has agreed to acquire an 80% interest in Information Management Network (IMN IMN Iraqi Media Network IMN Indicated Mach Number IMN Inter Member Network IMN Infectious Mononucleosis IMN Invisible Moose Network (website) IMN Illegal Macro Name IMN Internet Marketing Newsletter ; New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of ), a financial conference organizer, for a cash consideration of $29 million. The size of three further payments to be made in 2005, 2006 and 2007 are dependent on IMN profits In the preceding year. The remaining 20% interest in IMN is subject to put and call options exercisable in 2008 or thereafter. IMN was represented in the deal by The Jordan, Edmiston Group, Inc. (New York). For the year ending Dec. 31, 2003, IMN had unaudited revenues of $20 million and pre-tax profits of $7.3 million. The company was established ten years ago to offer educational conferences for the global investment community. Privately owned, it now produces 70 conferences annually. IMN does not compete directly with Euromoney. Euromoney chairman Padraic Fallon Padraic Fallon (1905 - 1974) is an Irish poet. He was born in Athenry, County Galway, and later moved to Dublin where he became part of the George Russell circle. For almost twenty-five years he served as a Customs and Excise official in County Wexford where he lived and farmed said the deal "brings together two of the strongest names in international financial conferences. We complement each other well, with very little overlap in our activities." In earlier activity, Euromoney, which publishes 80 b2b titles, including Euromoney and Insitutional Investor, acquired Hedge Fund hedge fund, in finance, a highly speculative, largely unregulated investment device. Originating in the 1950s, the funds "hedge" by offsetting "short" positions (borrowing a security and then selling it at a higher price before repaying the lender) against "long" Intelligence (London), a publisher of hedge fund information such as EuroHedge, AstaHedge and InvestHedge, in August 2003. |
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