Tesco moved to secure control of Dobbies Garden Centres last night and see off a threat from Sir Tom Hunter, the Scottish entrepreneur, by lowering the acceptance level for its bid for the company.

The supermarket group said that it would now require only 50 per cent of Dobbies investors to accept its £155.6 million bid for the Scottish chain, instead of the 75 per cent that it had specified previously. The 50 per cent level would give Tesco management control of Dobbies.

The move came just hours after Sir Tom dealt a near-fatal blow to Tesco’s hope of buying Dobbies when he spent nearly £10 million in three successive share raids to take a 25.6 per cent stake in the Scottish chain.

His move, raising his stake from 20.6 per cent last week, scuppered Tesco’s chances of getting 75 per cent acceptance.

After the market close, Tesco said that its offer would be posted immediately to Dobbies shareholders, and would be open until July 18. Tesco has shares and commitments to sell equivalent to about 30 per cent of the equity of Dobbies, whose shares closed up 47½p at £18.30.

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