LONDON (SHARECAST) - An auction could be about start for property group Benchmark, which today announced it had received a number of bid approaches.
In a statement, Benchmark said it has received a number of unsolicited approaches "of a very preliminary and tentative nature" from various parties considering a possible offer for the company. No firm proposal has been made yet, it added.
Benchmark's share register is dominated by life group Friends Provident and Malaysian businessman Quek Leng Chan, who between them own about 70% of the shares.
Derivatives specialist Cantor Fitzgerald also announced a stake of over 5% this week, but did not indicate whether it was to match a position of a client.
In June, Benchmark's directors said they were considering all options available to narrow the discount between the share price and the underlying net asset value.
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