16 February 2005 – LAWFUEL – The Law News Network – Allen & Overy is …

16 February 2005 – LAWFUEL – The Law News Network – Allen & Overy is advising Future plc (“Future”), the international publisher of special-interest consumer magazines, on its recommended offer for Highbury House Communications plc (“Highbury”).

The offer is a share offer with a partial cash alternative. The partial cash alternative will be funded from committed facilities from Barclays Bank PLC. At the offer price, Highbury has an enterprise value of £96.5 million, including net debt of £64.9 million.

Corporate partner Ian Lopez is leading the Allen & Overy team, working with partner Alan Paul and assisted by associates Jocelyn Ormond, Richard Evans and Peter Stewart. Partner John Wotton is advising on antitrust matters, assisted by associates Jeremy Robinson and Elizabeth Shaw. Partner David Murray and associate Suzy Lloyd advised on Future’s new credit facility. New-York based partner Eric Shube is providing advice on US law matters, with London-based partner Paul Burns, assisted by London-based associate Dorothee Fischer-Appelt.

Commenting on the transaction, Ian Lopez said: “Future’s acquisition of Highbury will make it the third biggest consumer magazine group in the UK and the second largest special-interest magazine publisher in the country1. Given that this transaction involves an offer of securities into the US, it was essential that we were able to offer seamless UK and US law advice.”

For further information, please contact Jo Shepherd ([email protected]) in London on +44 (0)20 7330 2195 or on +44 (0)7771 896 290.

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