Marler Estates’ shares were suspended at £12.50 on Tuesday, a fall of £1 on the overnight price. Marler has agreed in principle to buy the privately owned Berkley House group, but under terms of the deal control will pass into the hands of Graham and Keith Meehan (right), the principal shareholders of Berkley.
The Meehan brothers already have an interest in 28.01% of the Marler equity through an agreement with David Thompson, the former chairman of Hillsdown Holdings who bought his stake in Marler from Terry Ramsden’s Glen International for 950p a share.
Berkley came into the limelight a year ago when it made an abortive tender offer for Lord Lever’s Authority Investments, which has a major development in London’s Docklands.
