Lexicon awaits bids as it begins sale for City broker KBC Peel Hunt

Bids are expected to be tabled for broker Peel Hunt after Lexicon, the corporate boutique which is running the auction for Belgian owner KBC, sent out information memoranda last week.

Possible buyers have been approached since September when news of the sale broke. It's believed it could be sold for as little as £30m – KBC paid £218.5m for the business in 2000. A management buyout is thought to be the most likely option.