The Irish property investment fund, Quinlan Private, has emerged as a potential late bidder for Minerva. The group, led by Derek Quinlan, has looked at Minerva’s books and is considering an offer.
Minerva has already drawn up a shortlist of five bidders for the company, with at least one offer reported to be over 300p per share.
The shortlist is believed to include a partnership between Tishman Speyer and Westfield; Hines; a group of Russian investors and two unknown private consortia. Tishman Speyer and Westfield are thought to have bid around 270p for the company.
Lehman Brothers and HSBC are handling the sale of the company.