Lord Harris of Peckham’s proposed £850m buyout of Carpetright could be blocked by Harris Associates, the US fund manager that helped remove Lord Saatchi of Staplefield from his advertising agency. The Times. Financial Times
The Chicago-based outfit is the third-largest shareholder in the floor covering retailer, with an 8.5% stake. Lord Harris, the chairman and chief executive who founded Carpetright in 1988, holds 23.4%.
Olayan, the Saudi group that holds the second-largest stake of 14.9%, has already given its blessing to the £12.50-a-share proposal.
Harris Associates is thought to be demanding a higher price.