TAKEOVER speculation surrounding Scottish and Newcastle has intensified after entrepreneur Trevor Hemmings increased his share in the company.
S&N's share price has rocketed during the past month from just above 350p to nearly 425p on the back of City whispers.
Hemmings' involvement has further ignited interest in the future ownership of the company.
Mr Blackpool, as he is known in certain quarters due to his sizeable property portfolio in the seaside town, has taken his stake to 35,990,025 shares, or 4.03 per cent, valued at £151.7m.
Before this, his stake in the company was 2.99 per cent, just below the three per cent threshold where interests must be notified to the Stock Exchange.
A racehorse owner, Mr Hemmings is considered a reliable backer of winners and his renewed interest has done nothing to dampen the takeover speculation.
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