Informa, publisher of Lloyd’s List, has held talks with its rival Springer Science and Business Media over buying the German academic publisher whose private equity owners are looking to sell the whole business at a reduced valuation. Springer, owned by UK buy-out groups Candover and Cinven, was initially negotiating with key private equity rivals to sell a stake of as much as 49% for about €400m. But interested parties are now considering buying the whole company for under €400m, as Springer’s impending debt maturities have forced the sellers to cut their valuation target.