Connaught, the struggling social housing group, has climbed another 8% this morning on break-up hopes.
The company has seen a dramatic slide in its share price since a profit warning at the end of last month. But last night after the market closed, activist investment group Breeden European Partners disclosed it had raised its stake in Connaught from 7.23% to 13.05%. Earlier in the day it had announced it had raised its stake from 6.06%.
Traders suggested that Breeden - which was set up by former US SEC chairman Richard Breeden - could engineer a break up or takeover of Connaught. Breeden also owns a 3.05% stake in rival Mears, up 2p to 234.75p.
