Shares in food group Greencore rose today following a report that Icelandic firm Exista had bought more than 8 per cent of the company.
It has been suggested that Exista, which owns part of Icelandic food supplier Bakkavor Group, may want to merge Bakkavor's Geest unit with Dublin-based Greencore's sandwich division.
Greencore shares climbed by 32 cents, or 8 per cent, to €4.32 on the Dublin market this morning but fell back nearer lunchtime.
Exista invests in financial-services companies in the Nordic region and owned almost 25 per cent of Kaupthing Bank, Iceland's largest bank, on December 31st.
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Exista operates Iceland's largest property and casualty insurer VIS, and life insurance company Lifis.