Texton’s biggest shareholder has raised its stake to around 40%, triggering a mandatory cash offer for the remaining stock in a deal valuing the diversified property group at R314m and sending its shares surging almost 45%

The consortium, which counts the chair Marcel Golding’s wife Bronwyn Keene-Young as an investor, coughed up R1.20 per share to raise it from 32%- 40% — a level that requires it to extend the same offer to minorities...

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