Property developer Liam Carroll has upped his stake in take-over target Irish Continental Group after buying 30,000 more shares yesterday at €25 each.
A statement from Liam Carroll's advisers Dolmen Securities to the stock exchange shows that the developer has now amassed a 20.29% stake.
ICG first became a takeover target in March, when the management-led consortium, Aella, offered €18.50 a share for it.
In June this was trumped by a €22 euro a share bid from Moonduster, a rival consortium comprising Philip Lynch's investment vehicle One51 and the Doyle Shipping Group.
In August Aella then tabled a €24 a share offer for the company which values the business at €612m.
This bid has been recommended by the company's independent directors and is due to be voted on at an EGM later this month.
Ferry group ICG said yesterday the protracted battle to take it over has so far cost the company €16.5 million.
