DTZ receives takeover bid

Staff in DTZ's Manchester office were today waiting to hear if the firm was about to be taken over, following confirmation of talks with a possible buyer.

DTZ issued a statement to the stockmarket which said: "The company 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.

"A further announcement will be made, as appropriate, in due course."

The share price has risen 10p, or 31%, today, to 42p.

DTZ Manchester employs around 120 people and is one of the largest surveying practices in the region.