"The US hedge fund QVT Financial raised its stake in Punch Taverns to seven per cent yesterday, as it stepped up its attempts to derail the pub company's proposed £4bn merger with Mitchells & Butlers (M&B)."
http://www.independent.co.uk/news/business/news/qvt-raises-stake-in-punch-to-scupper-mb-merger-781548.html