Slough tightens net on Bilton

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The Independent Online
SLOUGH ESTATES, the property group, yesterday moved a step closer to winning control of Bilton, after buying a large chunk of its smaller rival's shares in the market.

Slough, pursuing a pounds 276m hostile bid for Bilton, bought around 13.5 per cent of Bilton shares at 307p, below the offer price of 313.5p. Dealers said the holding came from a large institution, believed to be Schroders, Bilton's largest shareholder with 17 per cent.