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LONDON-Factory outlet developer Freeport is facing a possible bid for the company that could value it £134.8 million ($212.5 million).

Details emerged after KPMG announced that it was advising former BAA McArthurGlen director Iestyn Roberts, Chris Howell and Nigel Wright on a possible bid for the company. A statement said: “Iestyn Roberts, Chris Howell and Nigel Wright have formed a management team with the intention of considering a possible offer for the entire issued share capital of Freeport.”

Freeport responded with a statement saying “Freeport has not received any approach regarding a possible offer.A further announcement will be made in due course and in the meantime shareholders are advised to take no action.”

The statement added: “The Management Team have noted the recent speculation regarding the Company and wish to announce that work in respect of a possible approach is at a very early stage, and it is by no means certain that an approach or proposal will ensue.”

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