Private equity firms are running the slide rule over DFS, the UK furniture chain, since Lord Kirkham, the company's executive chairman, made an indicative offer valuing the company at £445.3m (€668m).

Kirkham, who floated the company in 1993 and with his family owns almost 10% of DFS, is offering £4.15 a share - a 1.3% premium to Wednesday's closing price in London of £4.10. He plans to buy the company using a combination of his own capital and bank debt. Exact financing details are still to be decided but it is understood that Lord Kirkham would provide around £150m.