DTZ takeover deal breaks down

The planned takeover of DTZ by Saint George Participations has broken down after talks on the deal broke down. Already DTZ’s largest shareholder, its plan was to sell the business on to BNP Paribas’s property unit. DTZ’s chief executive Jon Forrester said the end of the 5-month saga was a relief. ” It was a situation that was unhelpful to be in and is helpful to be out of. Today has been a good day because it provides clarity for our staff and clients.” He says the company would consider issuing shares in order to cut its debt and would entertain other bids.

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