Desmond's Barlo stake edges near 15%

Financier Dermot Desmond upped his Barlo stake again last Friday with the purchase of another million shares in the MBO target company.

Desmond's investment vehicle IIU Nominees bought the shares at a price of €0.42 each.

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.

The offer valued the plastics and radiator group at around €70m.