Robin Paterson's 'activist investor' vehicle wants the estate agency's management to change direction and go for growth.

Agency says it has agreed to buy 895,360 shares off Alchemy, which at one point was poised to buy Countrywide.

Connells chief says it will now pay shareholders £3.25 a share, an increase of 30% on its original £2.50 deal.

Investment firm is scathing of the Connells takeover bid and says its offer will satisfy all shareholders.

Struggling behemoth tells shareholders Alchemy deal is the best on the table after rejecting competitor out of hand.

Estate agency giant says it will now discuss three options with shareholders including Connells bid as it reveals new interim CEO.

Catalist, which is one of the firm's largest stakeholders, has made an unusually strong statement criticising fellow shareholder Alchemy and the company.