Laxey Partners, the biggest investor in Freeport, is backing a takeover bid by US private equity group Carlyle, despite an appeal by Carlyle to the Takeover Panel to withdraw from the deal.

Freeport said it had received acceptances from shareholders owning 53.9% of the company for the 410p-a-share offer

The offer closes on 31 August and requires the backing of 90% of investors.