Newspaper article The Journal (Newcastle, England)

Stakes High as Hunter Stalks House of Fraser

Newspaper article The Journal (Newcastle, England)

Stakes High as Hunter Stalks House of Fraser

Article excerpt

Byline: By Graeme King

Department store House of Fraser looks set to become a takeover target once again after confirming long-term suitor Tom Hunter had upped his shareholding to almost 11pc.

The news fuelled fresh speculation that Mr Hunter, a Scottish entrepreneur, is planning to renew his efforts to buy the group, which he failed to land earlier this year.

House of Fraser runs 50 stores under 15 banners, including Rackhams, Army & Navy and Binns.

There is a large House of Fraser store at the MetroCentre in Gateshead. A statement to the London Stock Exchange revealed Mr Hunter's holding company, TBH Investments, had bought just over 10 million shares in House of Fraser earlier this week.

This takes his holding to 10.94pc or 25.6m shares.

Before the latest transaction, he already owned 6.9pc of the company. Mr Hunter's move to increase a stake in the retailer comes just three months into a six-month Takeover Panel restriction to prevent him making an offer for the group. …

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