Earlier in the day the company was still insisting, despite press reports to the contrary, that Reichmann had not "formed any definitive intention" to form a consortium, but that he continued to "review his options".
In a note HSBC analyst Alan Patterson said Reichmann could be talking to other potential bidders--including Goldman Sachs' Whitehall Fund; Morgan Stanley and Canadian property group Brascan --in an attempt to drive up the price for the company. Patterson values the company as highly as 374p per share, but said a bid of 250p to 300p would be more realistic given the current depressed state of the Docklands office market. Canary Wharf shares were trading at 267p, up 13% on the week, as Globest.com published.
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