DTZ confirms bid approach
Published: 12 May, 2011
Property consultant in talks with a number of suitors
DTZ, the listed property consultant, has confirmed that it has received a number of possible offers for part, or all, of its business.
In a Stock Exchange announcement it said that it “notes the recent movement in its share price and confirms that it has received a number of approaches for investment in the Company's shares (including a possible offer for the shares in the Company). The Company is holding discussions with the various parties who have made these approaches.
The discussions are at a very preliminary stage. There can be no certainty that any structure will be progressed or that any offer will be ultimately made.”
The identity of the mystery bidders is a matter for some speculation with rivals CBRE and Jones Lang LaSalle having reported improved results recently.
If a deal does take place it will be the latest in a series of acqusitions in the property consultancy sector. Colliers International is injecting new impetus having taken ownership of the former Colliers CRE business, Capita Simons acquired NB Real Estate and Deloittes bought Drivers Jonas.
