Schroders' Buxton leads the charge to snap up SJP shares

Buxton (pictured), manager of £3.5bn UK Alpha Plus fund, is understood to have bought £135m worth of shares being offered to the market at a discounted price by Lloyds. Lloyds said yesterday it was placing £520m worth of shares in total into the market, at a price of 510p, a discount of 5% to the closing share price the previous day. The sale represented 20% of the total share capital of the company, although it left Lloyds with a 37% stake. Lloyds has said it will not make any further sale for at least a year, but that has not stopped fund managers - including Buxton - buying it. ...