is there any truth in the rumour of 70p?? - sp up right now

Monday 07 November, 2011DTZ Holdings PLC
Update on formal sales process
RNS Number : 5901R
DTZ Holdings PLC
07 November 2011



NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, IN, INTO OR FROM ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF THAT JURISDICTION







7 November 2011





DTZ Holdings plc

('DTZ / 'Group' / 'Company')



Update on formal sale process



On 19 October 2011, DTZ announced that it was evaluating preliminary expressions of interest from parties potentially interested in acquiring DTZ by implementing a formal sale process of the company.



That formal sale process is ongoing and has attracted considerable interest in the business which DTZ continues to evaluate.



Based on the valuation of DTZ derived from proposals received to date, however, and, given the level of debt within DTZ, there is minimal value, if any, that may be attributed to the ordinary shares of DTZ, although the exact value is uncertain.



This announcement is not an announcement of a firm intention to make an offer under Rule 2.7 of the Code and there can be no certainty that an offer will be made, nor as to the terms on which any offer will be made

2.85

-18.40 (-86.59%)

this is an absolute shocker - it appears there is now no value in dzt - debts around 67M - value around 7M - the only ray of light is their chinese business - i hope no one caught out here - this company has history of over 200 years one of the first of its kind!! relieved to be out of this already - hope the same applies to others

Will UGL make an offer? They have up to Dec 6


Aussie UGL eyes debt ridden DTZ

Date: Tuesday 08 Nov 2011

LONDON (ShareCast) - DTZ, the property management consultancy that is currently trying to sell itself, has announced Australian firm UGL as its preferred bidder. The news has sent DTZ shares higher although the back story to the deal is not pretty for investors.

The value of DTZ all but evaporated on Monday after the firm admitted its huge debts would mean shareholders would receive virtually nothing from any sale.

As a result of that statement the stock fell 85% yesterday, down 92% on the year. Todays news of a possible tie up with UGL has obviously got some investors hoping to squeeze at least some value from their holdings.

Whether they can or not is an open question as the transaction is by no means a done deal.

As a business proposition, though, the Aussie takeover makes some sense as it would create one of the biggest property servicing companies in the world employing 24,000 people, and operating in 45 countries.

UGL now has until the 6th of December to make a firm offer.

Oh deary - and I thought this was a decent Property co. - that was what I read, but then Dirs are very good at being economic with the truth - the debt positon was no-doubt always there....
....The 2009 dip was nearer the truth, but punters always remember the good times...
These were 8 in 2007.....Yikes!