Sir Tom continues his stake building
Published: 10 August 2007
Sir Tom Hunter has raised his stake holding in Dobbies yet again – a day after he stated he would neither sell his shares nor accept Tesco's offer.
The investment vehicle West Coast Capital (Lios) increased its stake from 26.2% to 27% today (Friday, August 10) after acquiring 2.7 million shares, the equivalent of 1% of the stock.
Only yesterday, Sir Tom criticised the bidding process for Dobbies saying it didn't benefit the shareholders, and undervalued the long-term value of Dobbies.
Tesco has 32.6% of Dobbies' shares. It has until August 19 to reach 50% stockholding and gain control of the garden centre chain.