Candover, the private equity group, is considering making an approach for Informa after news broke that the Lloyd’s List owner and United Business Media (UBM) are in merger talks.

A bid from Candover, the co-owner of Springer Science & Business Media, the German publishing group, would probably be made alongside Cinven, its partner in Springer.

Informa previously turned down an offer from Springer at 630p a share at the end of 2006.

While there have been concerns that Informa’s debt levels could make a private equity bid difficult, sources said that a merger of Informa and Springer would create obvious cost synergies.

Cinven was not available for comment. Other private equity groups have been circling Informa in recent weeks, including Carlyle and Apax, although sources said that they may have difficulty competing with a trade player.

Shares in Informa leapt yesterday after the group revealed talks over a £3 billion merger with UBM, which owns Property Week.

Informa confirmed speculation that it had been approached by the publishing group about an all-share merger that would create one of the largest FTSE 100 media stocks.

Analysts at Numis Securities said in a note that the deal could lead to cost savings, but that it may also spark takeover interest in both companies.

The note said: “We would be supportive of a combination and believe this would provide cost and revenue synergies, remove balance sheet risk from Informa and deliver technical benefits from FTSE 100 inclusion. A nil-premium merger puts both companies in play, with Informa in particular repeatedly linked with private equity interest.”

Shares in Informa surged 51¼p, or 13.2 per cent, to 437½p, while UBM shares rose 12½p to 618p.

It is not known who would lead the bigger group if a merger went ahead, but there has been speculation that Peter Rigby, Informa’s chief executive, could become chairman, while David Levin, of UBM, could be chief executive.

UBM, which is one of Britain’s largest exhibition companies, confirmed that discussions, which were at an early stage, were taking place.

Informa said: “There can be no certainty that any transaction will take place.”

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