Delancey buys up Minerva shares

Investment firm Delancey and its partner Area Property Partners have built up their stake in their takeover target, Minerva to become its second-biggest shareholder. The pair bought up 12.5 per cent of Minerva’s stock yesterday at 118p per share from minority owners, which will deter rival bidders from entering the fray. APP and Delancey, which is run by Jamie Ritblat, have offered £194m to buy the property developer and have been negotiating the deal since January.