Summary
PHILIP Green took a huge step towards taking control of Marks & Spencer yesterday as he secured the backing of major shareholder Brandes and tabled a 400p-a-share offer for the company.
The billionaire said the proposed GBP 9.1 billion bid would still be dependent on a recommendation from M&S, but he warned the company's board that he also enjoyed "irrevocable support" from fellow top-ten shareholder Schroder.See the full content of this document
Extract
Brandes Backs Green Bid
M&S directors disbanded a board meeting without making a decision last night, although some market speculation suggested the ...
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