The Sunday Times predicts that Philip Green will increase his offer for Marks & Spencer "within the next few days".
The ongoing struggle for control of M&S stalled when the group's board decided that Green had undervalued the company with an initial £8 billion bid.
Despite an over-riding feeling that Green would turn his back on the battle earlier last week, there is now confidence that he will significantly raise the stakes.
Shares in the retailer have been on the up since Green's interest was first made public and while analysts are forecasting an offer in the region of 375p a share, insides at M&S are said to have intimated that 390p a share is the likely mark they would require.
M&S has also failed to gain the early release of Kate Bostock from Asda. Bostock will take over womenswear on her arrival, which will not now be until October. New chief executive Stuart Rose is also busy hunting a new head of food.
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