William Cairns, who put up the sum of pounds 200,000 to save the company from liquidation, will have 3 per cent of the combined group. Gander's share price rose 0.25p to 7p.
ANAGEN, a failed drugs business, is making a market comeback. It is taking over Gander, a property group, in a share exchange deal which will allow Gander to use Anagen's pounds 27m of losses to offset future profits. Anagen was delisted last year and is now a shell.