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Byline: Nicola Hobday
LONDON -- In a yet another twist in its brief history, British personal-injury claims company Claims Direct plc moved toward a merger with smaller rival Claimline rather than being taken private.
Simon Ware-Lane, an individual private equity investor, said Aug. 29 he agreed to increase his stake in Claims Direct to 29.8%, the maximum he can hold without having to launch a takeover offer. Ware-Lane proposes that Claims Direct merge with Claimline, in which he also owns a significant stake.
Through his investment vehicle SWL Holdings Ltd., Ware-Lane will buy the stock from Barker Securities, the firm set up by Claims Direct's …