Peter Webb, the head of Unicorn Asset Management, has built up substantial stakes in a series of the UK's smaller players. Last Friday he sold his 29 per cent stake in Dynamic Commercial Finance to one of the company's rivals.
He is believed to have sold the stake to GLE Development Capital, a private equity firm, which is now tipped to table an outright bid for the rest of Dynamic Commercial.
GLE owns a company called IGF, which like Dynamic, is in the factoring business and is said to be keen to merge the two players together. Meanwhile, Peter Webb seems to have secured an amazing deal with GLE. Should the private equity house buy Dynamic outright at a price above 107p, GLE has agreed to pay Unicorn the difference.
Source: Independent website
