The banking group HBOS confirmed this week that it is considering making a bid for developer Quintain, which is valued at about £1.2bn.
Quill Securities, a subsidiary of HBOS, told the stock exchange on Monday that it was evaluating its options for the developer, which is working on the regeneration of land around Wembley stadium.
Quill said options under consideration included making an offer for Quintain. However, it added that: “Such evaluation is at an early stage. “
HBOS has continued building a stake in Quintain, raising it to about 14% by Tuesday.