Reuters UK – Hedge fund millionaire Bertrand des Pallieres’s SPQR Capital has launched a bid to trump BlueGem Water’s proposed stake building in stockbroker Panmure Gordon & Co.
SPQR said that, via vehicle P.G. Holdings, it proposed to take part in a placing of at least 43 percent of Panmure’s capital at a price of at least 28 pence per share, a minimum total spend of 17.4 million pounds.
Last month, private equity firm BlueGem Capital Partners said it would take a stake of 40 percent in Panmure at 24 pence per share.
