Market Report: Greycoat, the property group, was the subject of brisk trading

GREYCOAT, the property group, was the subject of brisk trading, with deals for just over 7 million shares and 710,000 of them going through at 165p. The price rose 3.5p to 172p.

Rival Wates City of London Properties is keen on arranging a merger with Greycoat, and there was speculation that it had lifted its 2.9 per cent stake in an attempt to bring further pressure on what appears to be a reluctant Greycoat board.

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