In a statement to the stock exchange, Informa announced that discussions between UBM and Informa had "ceased" as "no agreement on terms had been reached between the parties".

However, Informa also announced it has 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.

Informa did not reveal any more details about the identity of the bidder but newspaper reports cite Providence, Apax, Candover and Cinven among the potential bidders as hope for a trade buyout falls.

Informa's share price fell by 10% in early trading having risen in anticipation of an all-share bid for the company by UBM.

UBM released a statement which 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."

Informa publishes journals and books for academic, scientific and professional groups. It has more than 150 offices in upwards of 40 countries, staffed by 7,500 people.

UBM's 5,000 staff in more than 30 countries focus on professional and commercial sectors. Last year, it made more than £800m in revenue with an operating profit of £176m.

The deal would have created a publishing supergroup valued at around £3bn.