US private-equity firm Lone Star has agreed a £700m acquisition of property developer Quintain Estates and Development.
Quintain’s board has recommended the 131p-a-share offer, but despite this there is speculation that rival bids could emerge.
Among Quintain’s holdings are Wembley Arena and other properties around Wembley Stadium. It owns 85 acres of land in the area and also has planning permission from Brent council to build around 5,000 houses.
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