A rise of 7p to 177p in the price of British Land shares, on speculation that MEPC was about to bid for the company, brought swift reaction from John Ritblat, the group’s chairman, who denied that there was any substance to the rumours circulating in the City, MEPC remained tight-lipped and at the end of the session the shares remained up 7p on the day.
According to David Cohen, British Land’s finance director, the speculation was prompted by MEPC’s £76m Eurobond issue, announced earlier in the week. MEPC itself had been the subject of intense bid speculation some weeks ago.
