Events group Hyve's suitor plans bid for Ascential's events arm-Sky News
(Reuters) - British events group Hyve Plc's suitor may bid for the events organising division of Ascential, the London-listed company that has confirmed plans to break itself up in the coming months, Sky News reported on Friday.
U.S. private equity firm Providence Equity Partners could seek to combine that division with Hyve, for which it has bid 300 million pounds ($360 million), Sky News said, without mentioning a potential price for the Ascential deal.
Hyve, which organises in-person events and programmes, is currently considering Providence's 105 pence-per-share proposal.
Ascential and Providence Equity Partners did not immediately respond to a Reuters request seeking comment.
Ascential has said it plans to keep its events division UK-listed, while listing its digital commerce division as an independent business in the United States.
The events and analytics firm's shares were up 4.1% at 1240 GMT. ($1 = 0.8337 pounds)
(Reporting by Muhammed Husain in Bengaluru; Editing by Savio D'Souza)