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LONDON, Jan 30 (Reuters) - Britain's Informa sealed its 3.8 billion pound ($5.3 billion)takeover of conference organizer UBM on Tuesday, creating an enlarged business information and events firm.
Informa will pay 1.083 new Informa shares and 163 pence in cash for each UBM shares under the terms of the deal, in line with an announcement earlier this month.
The deal, which comes almost a decade after UBM tried to buy Informa, will create a world leader in events, the fastest growing part of Informa's business.
"It is clear that the business-to-business (B2B) market is moving to operating scale and industry specialization," Informa chief executive Stephen A. Carter said.
"Our recommended offer for UBM promises to create a leading B2B Information Services Group with the international reach and market capabilities to take full advantage of these trends."
He said the deal would create at least 60 million pounds of costs savings a year after the businesses were integrated by 2019.
UBM also updated the market on its recent trading, saying the fourth quarter had been ahead of expectations and as a result it expected its full-year profit to be ahead of forecasts.
($1 = 0.7135 pounds) (Reporting by Paul Sandle; editing by Kate Holton)