Shares in Greencore are trading 5.8 per cent higher at €5.45 today after property developer Liam Carroll confirmed last night that he had increased his stake in the food company to 29.51 per cent.
Mr Carroll's stake is now only fractionally short of the 29.9 per cent threshold for a mandatory bid for the business.
The move comes ahead of a High Court ruling tomorrow on Greencore's challenge to the Government's allocation of a €145 million compensation package for sugar sector precipitated by the EU's rationalisation of the industry.
Greencore received €98 million, but says it should have received €130.5 million.
