DataRoom AM: UGL downer

UGL’s sale of its property services arm looks in doubt, while two of the biggest floats of the year move closer to judgment day.

UGL appears close to be abandoning the sale of its property services arm and the news has investors rushing for the exit. The markets may be ebullient at the moment but if any firm fails to meet expectations, investors are happy to dish out the punishment.

Elsewhere, there’s progress with two of the biggest floats of the year, a ‘for sale’ sign remains a possibility for David Jones’ property assets and Ten Network draws interest from the UK.

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