Businessman Paschal Taggart has emerged as a new shareholder in Jurys Doyle, spending €19.3 million to acquire an almost 2 per cent stake.

His entry fuelled speculation that Liam Carroll may be seeking to make an outright bid for the hotel group, as Mr Taggart has previously done business with him, helping him to gain control of Dunloe Ewart in 2002.

Mr Carroll has a 9 per cent shareholding in Jurys Doyle hotels and it was suggested yesterday that he had offered to acquire the 28 per cent shareholding held by Sean Dunne on Wednesday, but that this was rejected.

Mr Carroll is understood to have offered Mr Dunne €19.50 per share for his stake, ahead of the €18.90 per share bid tabled by JDH Acquisitions, the consortium led by the Doyle family.

Mr Taggart, who also has close business links to businessman Dermot Desmond, paid €19.20 per share.

JDH, which made its formal offer for the group on Wednesday, confirmed it had purchased another 2.6 million shares at €18.90, bringing its stake to 46.1 per cent. Last night, the consortium, which also includes the Beatty family interests and those of director Alice Nelson, said it had received "irrevocable undertakings" that would raise its shareholding to 48 per cent.

JDH said that it could rely on support in respect of 49.2 per cent of the company when management share options are considered. These options will not be triggered until it reaches a 50 per cent approval rate on its own account.

The Doyle consortium has 27 days to issue a formal offer document, but could move before then. Its offer for the company is being backed by Jurys' independent directors.

Mr Dunne is said to have held bid discussions with Orion, a private equity house. Trading in the shares yesterday was relatively light at just over 147,000 and the stock closed unchanged at €19.10.