Desmond takes 6% stake in Barlo

THE takeover of the plastics and radiator group Barlo took a surprising turn yesterday after it emerged that Dermot Desmond has taken a 6% stake in the company.

Over the past few days Mr Desmond bought a further 1.2 million shares in Barlo early in the week.

Barlo’s management, led by chief executive Dr Tony Mullins announced a 40 cents per share takeover of the company.