The Independent - London, June 16th, 1994
(First Edition)
PHILLIPS & DREW Fund Management, which will play a key role in Enterprise Oil's pounds 1.6bn bid battle for Lasmo, yesterday confirmed that it had raised its stakes in both companies, writes Russell Hotten.
On Monday it bought an extra 2.45 million Lasmo shares, taking its stake to 15.88 per cent, by far the largest of any investor.
Enterprise supporters pounced on the news as an indication that PDFM was stakebuilding in advance of backing the bid.
However, analysts were more sceptical as PDFM also bought an estimated...
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