HBOS tipped as potential bidder

Erinaceous Group confirmed today that discussions were still ongoing over takeover talks.

There been speculation that HBOS is preparing to make a bid for the property group, which has a large insurance broking arm.

The group's chairman Nigel Turnbull is expected to tell shareholders at its annual AGM today: "As the Group announced in April we have received preliminary approaches which may or may not lead to an offer being made for the Group. The Directors believe that it is in the interest of shareholders for these approaches to be explored. Discussions are ongoing and a further announcement will be made in due course."