PEEL Holdings has increased its stake in UK Coal to 28%, increasing speculation the Liverpool John Lennon Airport and Mersey Docks and Harbour Company owner is positioning itself to launch a takeover bid.

Goodweather Holdings, part of Peel, bought 5.7m ordinary shares in a three day spree last week and now owns 44.1m shares.

Shares in UK Coal have risen 9%, to 105p, so far this week.

Last October Peel – owned by John Whittaker – was forced to confirm that it had no intention of making an offer for UK Coal after Owen Michaelson, Peel’s corporate development director, was appointed as a non-executive director of UK Coal.

At the time Peel said it will remain bound by this statement for the period he remains on the UK Coal board, and for a further six months afterwards unless an offer was invited by the board or made by a third party.

Doncaster-based UK Coal, which supplies about 7% of the country's energy needs for electricity generation, has substantial land and property holdings, which could be behind Peel’s interest in the business.

UK Coal’s land and property division, Harworth Estates, develops and regenerates brownfield sites, and manages five business parks on former mine sites.

It has identified 3,700 acres – less than 10% of its land bank – as being suited to development over the short to medium term.

The company believes the 76 sites have the potential, with planning consent, to deliver more than 25,000 new homes and 30m sq ft of business space. The sites are located from Northumberland to the East Midlands, mainly along the A1/M1 corridor, plus a large site at Bolton.

Peel has a UK property investment and land portfolio consisting of 9m sq ft of investment property and 25,000 acres. It manages 12 business parks in the North of England.

Peel Energy’s portfolio includes wind, tidal power, energy from waste, biomass and multi-fuel power plants with carbon capture and storage.

alex.turner