Desmond raises Barlo stake to near 18%

Financier Dermot Desmond has increased his stake in management buyout target (MBO) Barlo to almost 18% after the purchase of another 1.75m shares at €0.42 per share yesterday.

On February 10, 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.