Details emerged after KPMG announced that it was advising formerBAA McArthurGlen director Iestyn Roberts, Chris Howell and NigelWright on a possible bid for the company. A statement said: "IestynRoberts, Chris Howell and Nigel Wright have formed a managementteam with the intention of considering a possible offer for theentire issued share capital of Freeport."

Freeport responded with a statement saying "Freeport has notreceived any approach regarding a possible offer.A furtherannouncement will be made in due course and in the meantimeshareholders are advised to take no action."

The statement added: "The Management Team have noted the recentspeculation regarding the Company and wish to announce that work inrespect of a possible approach is at a very early stage, and it isby no means certain that an approach or proposal will ensue."

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