Trefick, the Isle-of-Man-based investment vehicle linked with Jack Petchey, has increased its stake in industrial tiddler Cleveland Trust to 27.1%.
Under stock market rules, Trefick will have to table a bid for the company if it raises its stake to 30%.
Cleveland would not comment on Trefick’s interest in the firm, but it is expected to oppose any takeover attempt.
Trefick has gradually built up its stake in Cleveland and revealed its latest tranche of shares on Monday.
Trefick, the Isle-of-Man-based investment vehicle linked with Jack Petchey, has increased its stake in industrial tiddler Cleveland Trust to 27.1%.
Under stock market rules, Trefick will have to table a bid for the company if it raises its stake to 30%.
Cleveland would not comment on Trefick’s interest in the firm, but it is expected to oppose any takeover attempt.
Trefick has gradually built up its stake in Cleveland and revealed its latest tranche of shares on Monday.
