Shares in Jurys Doyle added 15 cent to close at €17.70 yesterday as investors continued to bet that another bidder would come forward with an offer for the hotel group.
Although volume in the stock was light, with about 260,000 shares changing hands, they remained stubbornly above the €17.50 the Precinct consortium has said it will pay for the company, indicating the market's belief that the price has further to go.
It is understood that a number of other parties are closely watching developments at the firm as Friday's deadline for Precinct to lodge a firm bid for the company approaches.
A spokesman for Derek Quinlan said the former tax inspector turned property investor was potentially interested in making a bid for the company.
While he dismissed recent suggestions that an offer from Quinlan Private was imminent, he said Jurys would be a logical investment for Mr Quinlan, who led the €1.1 billion takeover of London's Savoy Group last year,
"He is interested. He is monitoring the situation," the spokesman said.
Mr Paddy Kelly, the property developer behind the Clarion chain of hotels, is also believed to be watching developments at the company closely, with market sources describing the situation surrounding Jurys as "very fluid".
Meanwhile, Precinct, the consortium fronted by three Irish businessmen which has secured the backing of Britain's billionaire Reuben brothers, is continuing with its due diligence on the hotel group. The consortium has until Friday to lodge a firm bid for the group.
There was no sign yesterday of further stake-building by Seán Dunne, the property developer who has already reached agreement with the Jurys board to buy part of its Ballsbridge site.
Mr Dunne, who snapped up 3.4 per cent of Jurys at a cost of €37 million on Friday, has indicated his intention to build up a stake in the hotel group to maximise his bargaining position in relation to the Ballsbridge acreage.
But the continued speculation that another bidder may yet emerge for the firm prompted would-be sellers of the stock to sit tight yesterday, limiting the opportunities for those like Mr Dunne to build up their shares.
