ITE considers Ascential bid, says report

London-listed ITE events organiser ITE is considering a £300m (US$424.4m) bid for fellow events business Ascential, according to a recent report by The Sunday Times. Earlier this year, EN reported that Ascential had announced a ‘strategic review’ of its exhibitions business, which includes Spring Fair, Autumn Fair and education event Bett. The Sunday Times reported that, following the review, several suitors have shown interest in acquiring the group of shows. When asked by CMW sister publication CN if an acquisition was being considered, ITE declined to comment. London-listed ITE would be obliged to inform the London Stock Exchange (LSE). Ascential will be retaining ownership of Money 20/20, and intends to launch a new edition of the show in China in 2018. In its end of year results for 2017, the company emphasised a focus on ‘high growth brands’, highlighted by the recent acquisition eCommerce analytics provider Clavis Insight.