"QVT Financial, the hedge fund threatening to oppose Punch Taverns' proposed merger with rival pub group Mitchells & Butlers, upped its stake to 7.05pc. Punch shares ended 28½ stronger at 641p, while M&B closed 16¾ better at 454¾p. Mark Brumby, an analyst at Blue Oar Securities, noted: "No one has been granted access to M&B's books and the company will be awaiting further approaches.""
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2008/02/13/cxmktrep113.xml