Aussie UGL eyes debt ridden DTZ

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.

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.

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