Barclays PLC has disclosed a significant short position in Mitie Group PLC, the British outsourcing company that is currently the subject of a takeover offer from Marlowe PLC.
In a regulatory filing on Friday, the bank revealed it holds a total short position of 1.45% in Mitie, equivalent to 18.2 million shares.
The disclosure showed that the majority of this position, a 1.20% stake, is held through cash-settled derivatives.
Alongside its bet that the company's shares will fall, Barclays also holds a 1.99% long position, or interest, in Mitie, representing nearly 25 million shares.
The filing details dealings that took place on Thursday, including numerous share purchases and sales, as well as derivative trades that increased its short exposure.
These transactions were executed at prices around 1.38 British Pounds per share.
Under U.K. takeover rules, firms with an interest of 1% or more in either an offeror or an offeree must publicly disclose their positions and any subsequent dealings.
Barclays confirmed in the filing that it is also making disclosures in respect of Marlowe.
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