Events and exhibitions firm, Informa, has rejected a reduced takeover bid from a private equity consortium.The £1.87 billion offer by Carlyle Group, Providence Equity Partners and Blackstone undervalued the business.A previous takeover offer valued Informa at £2.15 billion in July. This offer was made when the same consortium included Hellman & Friedman, rather than Blackstone.It is uncertain whether the private equity bidders will return with a revised offer. It has been suggested that in the face of worsening markets the consortium's recent offer is the best they can do..