An American private equity firm has approached investment banks to seek advice on making a bid for catering group Compass. But Clayton, Dubilier & Rice is said to be "some way off" a decision to approach Compass, which is valued at £3.8bn. Compass shares closed 5.45p down on Friday after suspending Peter Harris, its UK chief executive in the UK, amid allegations of corruption involving contracts awarded by the UN. Law firm Freshfield Bruckhaus Deringer has been hired to investigate. The Observer suggests that Sir Roy Gardner, who is set to become chairman next year, should step in now. The Sunday Times 23/10/05 (Business) page 3.1 The Independent on Sunday 23/10/05 (Business) page 8 The Observer 23/10/05 (Business) page 2 The Mail on Sunday 23/10/05 (Financial Mail) page 2