"IMI was also buoyant on the back of some bid speculation. Early rumours suggested that Honeywell, the American company which has often been mentioned as a likely bidder, was set to make an approach for the company. No likely offer price was forthcoming and IMI closed up 13p at 440p."
http://www.independent.co.uk/news/business/sharewatch/market-report-burberry-in-demand-after-fresh-talk-of-us-bid-794071.html