Hammerson has boosted its stake in Grantchester Holdings to 23.83%, or 16,684,850 shares, with a further 162,300 shares yesterday and 3,505,395 shares today.
Hammerson launched a 250p-per-share bid for the retail warehouse specialist on 9 September.
Its offer valued the firm at £192m and trumped a 218p-per share (£168m) management buy-out bid, which has now lapsed.
Grantchester’s independent directors have not recommended the Hammerson offer but are expected to do so shortly.
The shares closed today at 249.5p.
EGi News 17/09/02
