As we go to press the market is spotting Priest Marians as the favourite to take Isadore Kerman’s GRA, the greyhound racing group with tasty assets.
Mr Kerman declared he received a bid last month and names in the frame include Egerton Trust, one of ex-GRA director Frank Sanderson’s vehicles, Tony Clegg’s Mountleigh, the Beckwith brothers’ LET and Leisure Investments who should declare a 5% stake soon, although it is not favoured by the City as a runner.
However, Wednesday’s price of 118p, up 7p, suggests that the successful bidder may have to go higher, with 140p mooted by City analysts.
Priest is rumoured to be bidding at 120p per share which would value GRA at £52m.
