Informa, the exhibitions group, has received a takeover approach from a private equity consortium understood to be led by Providence. The news came after the announcement that Informa’s £3.4 billion merger talks with United Business Media, its rival, had collapsed.

The Times disclosed on May 13 that Informa was being circled by a number of private equity groups. Others to have run their rule over Informa include Candover, Cinven and Apax. Informa did not disclose details of its latest approach, but it is thought that Carlyle, another private equity group, is also part of its consortium. Talks between Informa and the private equity groups are understood to be at a preliminary stage.

Informa said in a statement after the market closed last night that it had received a further approach from a third party that “may or may not lead to a takeover offer in cash being made for the company”. It said that it was no longer in discussions with UBM.

While private equity has been attracted to Informa’s low dependence on advertising and its fast-growing exhibitions, conferences and events businesses, it has been unclear whether they would be able to make a deal work in the present market. Shares in Informa closed up 23¼p at 470p, valuing the group at £1.9 billion. UBM shares were down 8p to 601½p.

While there have been concerns that Informa’s debt levels could make a private equity bid difficult, sources highlighted that a merger of Informa and Springer, the German publishing group that is owned by Candover and Cinven, would create obvious cost synergies. Informa said that a further announcement would be made in due course.

UBM said in a separate statement that it was “unable to agree terms with Informa that would be in the best interests of UBM shareholders. Discussions between UBM and Informa have therefore ceased.”

Sources said last night that Informa’s rising share price had put pressure on UBM to pay a premium or offer Informa shareholders an incentive. A number of UBM shareholders are understood to have had concerns about Informa’s high debt levels.

It was confirmed this month that UBM had approached Informa regarding a possible all-share merger. These talks remained at a very preliminary stage and no agreement on terms had been reached between the parties.

Analysts at Numis Securities said in a recent note that the talks between UBM and Informa could lead to cost savings, but that it may also generate takeover interest in both companies.

It 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.”

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