Brandes Coup Gives Green Scent of Victory at Ms

Evening Standard - London › July 07, 2004

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Summary

PHILIP GREEN has scored a major coup in his assault on Marks Spencer, winning over the group's largest single investor by upping his proposed bid terms to 400p a share in cash.

The American Brandes Investment Partners, which holds 11.7% of MS, has irrevocably agreed to accept the new terms should Green should go ahead with a formal offer.

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Extract

Brandes Coup Gives Green Scent of Victory at Ms

It is a serious blow for MS and its new chief executive Stuart Rose, who is putting the finishing toutches to his strategy sta...

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