DTZ shares soar on hopes of bid

BELEAGUERED property adviser DTZ Holdings saw its shares soar almost 40 per cent in trading yesterday after it said it had received a possible offer.

DTZ said it had received “a number of approaches for investment…including a possible offer” for the company.

DTZ, majority-owned by French family trust Saint George Participations, said it was holding discussions with parties that had made approaches but cautioned that discussions were at a very early stage.

DTZ has suffered continued share price declines in the past year and made a £6m pre-tax loss in the half-year to October 2010. Its share price closed 22 per cent up at 39p.