Marks and Spencer is set for an imminent takeover bid from The Qatar Investment Authority, one of the Middle East's largest investment funds, according to media reports.
Rumours of an £8 billion bid have resulted in increased trading in M&S shares with the retailer's share price ending last week three per cent higher at 372.5p.
The upmarket retailer performed disappointingly over the Christmas period, with like-for-like sales down 1.8 per cent.
The Qatar Investment Authrotity has a history in UK retail having purchased Harrods three years ago and retaining a 26 per cent stake in Sainsbury's, after launching an unsuccessful bid for complete control of the retailer back in 2007.
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