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Battle lines drawn as Sir Tom Hunter increases his stake in Dobbies

Published: 14 June 2007
Sir Tom Hunter shows no sign of backing down in the face of Tesco's £156m bid after acquiring a further 10% of Dobbies' shares with backing from investment bank Kaupthing Singer & Friedlander.
The property magnate added that his investment company, West Coast Capital, which took its stake to 20.6%, is 'considering all its options in relation to its shareholding, one of which is a possible offer for the company'.

On Friday last week, Tesco announced it had secured an agreement to purchase 22.6% of Dobbies' shareholding.

It has been claimed that Sir Tom Hunter is expected to try to increase his holding to a 25% blocking stake.

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