By Michelle Graff
London--British communications and trade show company United Business Media Plc (UBM) is set to acquire Advanstar, an events and marketing service business based in New York.

The price tag on the deal is $972 million, but Reuters reported Wednesday that UBM’s “shares fell on concern it had overpaid.”  

UBM’s portfolio of events include a number of fine jewelry trade shows, including the Hong Kong Jewellery & Gem Fair that concluded last month and shows in Singapore, Delhi and Hyderabad, India, among other locations. 

With the acquisition, UBM now will own Advanstar’s Magic Marketplace events, the huge U.S. fashion conventions held in Las Vegas biannually that include jewelry. 

In addition, Advanstar operates another 53 trade shows and about 100 conferences annually, including the biannual Magic fashion trade show, also held in Las Vegas.

The deal is subject to shareholder approval.  

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