On Tuesday, Informa notified shareholders that conference organiser UBM had accepted its offer to join forces and create one of the largest B2B firms in the market. The London-based events and publishing firm agreed to pay 1.083 of new Informa shares and 163p in cash for each UBM share, unchanged from its initial offer to the target group two weeks ago. The offer price values UBM at approximately 971p per share amounting to £3.9bn. In its update to shareholders, Informa said it expects the union to create at least £60m of pre-tax cost savings per year after the businesses are integrated by 2019. Stephen Carter, Informa's chief executive, said the union between the two media firms reflects the sector's trend toward consolidation. "It is clear that the B2B Market is moving to operating scale and industry specialisation," he said.