Market expectations are rising about Green making a revised offer for the retailer in the next week, taking advantage of the current FSA investigation surrounding Marks & Spencer.
City analysts believe that M&S shares could fall to between 310-325p if Green’s bid was deserted. The millionaire entrepreneur is currently discussing with shareholders, including the largest investor, US company Brandes, and bankers to see if they would back a 370p a share offer, as well as gaining support to push the retailer’s board to allow limited due diligence on the company.
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