DTZ - Donaldsons17 Dec 2008 12:51
Acquiring a business, the value of which is largely the intellectual capital of its staff, is always a tricky proposition. It's so easy for the value to fly away. I don't have any knowledge about the DTZ/Donaldsons deal but DTZ is too big for any difficulties flowing from that deal to depress the DTZ value in any material way.
I think what we are seeing today may be the market at long last recognising that the DTZ stock is just too cheap at these levels. I would not be surprised to see the sp returning to at least 60/70p in the coming weeks.