Patisserie Valerie eyes Gail's swoop
Cafe chain Patisserie Valerie, which operates two outlets in Belfast, has been tipped to launch a fundraising drive to help bankroll a swoop for a London rival.
Shares in Patisserie Holdings climbed 5% following reports the high street cafe chain is gearing up for a £35m placing. The money would underpin a takeover bid for Gail's owner Bread Holdings, according to Sky News.
Brokers Peel Hunt said a successful transaction "could be materially accretive".
Gail's is an upmarket bakery and cafe chain with 38 outlets across London. Patisserie Valerie has cafes in Belfast's Donegall Square West and Castle Lane.