UGL in talks with DTZ on takeover offer

Diversified business services firm UGL Limited is in talks with London-based DTZ Holdings about a possible takeover bid for DTZ.

However, Sydney-based UGL says there is no certainty that a firm offer will be made for DTZ, a UK real-estate services company.

DTZ has offices in 145 cities across 43 countries worldwide, providing property market analysis for investors, developers, coprorate and public ector occupires and financial itermediaries.

Its scope of services include consulting, research, property and project management, valuation and investment and asset management.

UGL said a further announcement would be made to update the market when appropriate.

A tie-up of DTZ and UGL could create one of the world's largest real estate services operations.

In August UGL said it expected 2011/12 to be another 12 months of growth but declined to offer specific guidance in light of the recent global financial turmoil.