GLP denies takeover talks

Talks on possible takeover came after its shares jumped.

Global Logistic Properties announced that it is not in talks regarding the possible takeover by an investor group, as Bloomberg reported.

"The Company wishes to advise that it is not in discussions with the above referenced investor group at this time. The company remains committed to enhancing shareholder value and continues to review and assess potential opportunities," GLP noted.

It made the announcement after its shares jumped and it was queried by the Singapore Exchange.

"The Company is not aware of any information which might explain the unusual price movements in the shares of the Company today, other than the abovementioned Bloomberg report," the group said.

Quoting people with knowledge of the matter, Bloomberg reported that China Investment Corp., Hopu Investment Management and Hillhouse Capital Management have held talks about making a joint offer for Singapore-based GLP.

"The suitors have reached out to potential partners to weigh their interest in joining the consortium, one of the people said, asking not to be identified because the information is private," the report noted.