Michael Cannon has increased his stake in Eldridge Pope to 22.3%, prompting speculation of another takeover attempt. Cannon, operating through his investment vehicle SDA, took his stake from 15.68%, where it has been since November last year, with the purchase of 1.5 million shares. The company’s share price moved to an 11-month high on the news, although share were volatile in Friday morning trading, Last year Cannon failed in a 165p-a-share tender offer aimed at securing a 29.9% stake.