Rumours are circulating the City that British Land could target London Merchant Securities (LMS).
LMS completed the demerger of venture capital arm Leo Capital last month. Traders think LMS could be worth as much as 280p a share. It closed up 4.75p at 204.75p.
Meanwhile, Gerald Ronson’s 23% stake in Crest Nicholson, up 1.25p at 544.25p, also continued to attract speculation. Traders expect Bovis Homes, George Wimpey and Persimmon to be at the front of the queue.
References: The Daily Telegraph 27/07/06 page B9 (The Market), The Independent 27/07/06 page 42 (Market Report)
