Desmond increases stake in Barlo

Dermot Desmond has increased his stake in the MBO target Barlo group.

The financier's investment vehicle, IUU Nominees Ltd, snapped up 240,000 further shares yesterday in the radiator and plastics group for €0.42 per share.

Last month, Barlo's independent directors said they would be recommending a €0.40 per share cash offer from a management team led by chief executive Tony Mullins.