Gordon Brown yesterday said the UK Government would look at �every offer� for HBOS.

Gordon Brown yesterday said the UK Government would look at "every offer" for HBOS but highlighted the £17bn of taxpayers' money being put forward for what is his preferred option of the merger with Lloyds TSB.

The Prime Minister's intervention came as the leading businessman involved in talks about a possible, as yet unnamed, alternative bid for HBOS warned that the situation must not descend into political "mud-slinging" and "scoring political points".

Jim Spowart, founder of Intelligent Finance, has held talks with Jim Murphy, the Scottish Secretary, regarding a possible second bid for the Edinburgh-based bank by an anonymous European finance firm.

Alex Neil, SNP MSP, accused Mr Murphy of leaking details of the possible alternative bid and insisted he had broken the ministerial code by breaching confidentiality on information that is market-sensitive.

He insisted that if the Secretary of State was found to have broken the ministerial code, he should resign his cabinet post.

Last night, however, a spokesman for the Scotland Office insisted Mr Murphy had "at no point divulged any commercially sensitive information".

The Scottish Secretary, who confirmed he had talks with Mr Spowart, added: "I have spoken to the Treasury and if there is a second serious bid the Treasury would be happy to talk to them."

Alex Salmond met Lloyds TSB bosses in London last week to lobby for Scottish interests should the merger go through.

A spokesman for the First Minister said yesterday: "Any bid has to be judged against what is in the best interests of Scotland in terms of jobs, decision-making and competition."

Yesterday, Mr Brown made clear the authorities would look at any viable offer. He said: "Of course, we'll look at every offer and of course that's part of the shareholders sorting out what the future is."

A spokesman for HBOS said: "We never comment on market speculation. We have a recommended deal with Lloyds TSB which provides certainty and tangible financial benefits to shareholders."

Mr Spowart, who left the HBOS group more than four years ago, said of a potential rival to Lloyds TSB: "This is a genuine, genuine interest."

He also suggested the rival bid could keep more jobs and decision-making in Scotland.

He said: "It would keep the bank more or less intact, I can't guarantee the situation on jobs but I don't think there would be job cull at the same level as what is currently estimated or anticipated by Lloyds TSB."

An estimated 17,000 HBOS jobs are based in Scotland and, if the merger with Lloyds TSB goes through, 15,000-20,000 could reportedly go across the two groups, with hundreds of branches at risk of being axed.

Lloyds TSB will send its offer document to HBOS shareholders this week.

It is thought that HBOS has not yet been approached by Mr Spowart.

Elsewhere, reports suggested HBOS was planning to reveal further multi-billion pound writedowns this week.It is expected to unveil an additional hit of up to £5bn when it updates the market.