Laura Ashley has raised its stake in menswear retailer Moss Bros to 4.44%.
The retailer said that its unit, Bagleys Investments, had bought an additional 840,000 shares in Moss Bros at 45p each yesterday. This equates to a total holding of 4.19 million shares.
Moss Bros is the subject of a potential takeover bid from a consortium led by Baugur. In December the icelandic investment group, which already holds around 29% of the retailer, confirmed it was assessing its options which could include bidding for the business.
However Baugur is expected to wait to see the outcome of Christmas trading before making a move.
Laura Ashley has held a small shareholding in Moss Bros for several years. However it has increased its stake on a number of occasions in recent months.