Minerva is likely to be in focus today with sources saying that LeFrak, the family-run New York real estate group, has built a 2-3% stake in the company. Daily Telegraph
LeFrak, which was founded in 1901 and is one the biggest private landlords in America, has had the shareholding since at least January, according to sources with knowledge of the situation.
While Minerva’s share price has collapsed since last summer, there has been persistent speculation that it could be targeted by an opportunistic bidder keen to get its hands on the group’s prime central London projects.
Traders suggested that LeFrak could be looking to build a strategic stake or may even consider a full takeover at some stage. LeFrak declined to comment. Minerva’s shares closed 5 better at 131.25p.