Mind you, takeover and merger stories run rampant these days. But our trusty (anonymous) tip box today carried an interesting note about stories of a possible takeover of DTZ. That would explain the jumps in its stock price over the last day or two. The company acknowledges there have been approaches, but says it’s all very preliminary at the moment.
“There can be no certainty that any structure will be progressed or that any offer will be ultimately made,” it wrote in a statement.
Update: The Daily Telegraph is quoting an anonymous source as saying that DTZ’s biggest shareholder, SGP, is considering a plan to buy up remaining shares, take off the market and sell it on to BNP Paribas. The bank would then merge the company with its own real estate business. It’s an anonymous source, remember. They’ll say anything. It’s moving the market, though, so it’s news.