South Lakeland emerges as takeover target

Caledonia Investments is expected to face competition in the £50 million bidding war from private equity firm Bluebird Partners and at least one other firm, according to the Sunday Times.

South Lakeland runs nine holiday parks in the Lake District, Morecambe Bay and the Ribble Valley in Lancashire.

The Kendal-based company is being sold by Nama, the Irish agency established to handle bad loans from the credit crisis.