Shares in Great Portland Estates closed at a two-month high today, after news emerged of a private equity firm taking a stake in the company.
KKR has bought a 5.35% stake in GPE, with analysts at Jefferies saying the move would encourage chatter of “London office M&A potential”.
GPE’s shares rose to as high as 623.2p before closing at 610.4p, their highest closing price since mid-July.
At 10.5%, the company’s share price rise was the second-largest gain in the FTSE 250.
Elsewhere in the index, serviced office operator Workspace Group rose by 8.8% to close at 525p, while Shaftesbury ended the day at 514.5p, up 7.8%.
In the FTSE 100, Landsec and British Land were both among the day’s biggest risers, each rising more than 7%.
The FTSE 100 closed at 5,927, a gain of 1.5%, and the FTSE 250 stood at 17,370, up 1.9%.
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