Merger talks between CMPi parent company United Business Media and Lloyd’s List Informa collapsed yesterday after a third party approached Informa.
The Telegraph reports that the new bidder is believed to be private equity firm Providence Equity Partners. The FT suggests Apax and Carlyle as possible partners for a bid with Providence. The Times, similarly, suggests that several other private equity groups are interested in Informa.
In a statement last night, UBM said: “UBM remains of the view that a merged company could deliver significant benefits to both UBM and Informa shareholders, provide enhanced services to its customers, and could become the employer of choice in the global business media market.
“However, the board has been unable to agree terms with Informa that would be in the best interests of UBM shareholders. Discussions between UBM and Informa have therefore ceased.”