McKay Securities gets approach for possible offer from Slate

Commercial property investment company McKay Securities said on Friday that it has received a request from Slate Asset Management for access to due diligence so it can consider making a possible offer for the business.

McKay said Slate has not provided the board with a written indicative proposal in relation to a possible offer, but has indicated verbally that it is considering making such a proposal.

"If any such proposal is provided by Slate, the board of McKay will carefully consider its terms, in conjunction with its advisers," it said.

The company said its directors continue to recommend unanimously to shareholders the offer by Workspace.

McKay agreed earlier this month to be bought by office space provider Workspace £272m.

At 1010 BST, the shares were up 3.9% at 295p.