Tycoon betters bid for M

RETAIL tycoon Philip Green could ditch his bid to take over Marks & Spencer if talks with the trustees of its pension fund fail, it was reported yesterday.

Mr Green is believed to be putting the finishing touches to an improved offer of £8.8 billion and could outline the revised terms as early as this week.

But the new offer is thought to hinge on details of the size of the pensions hole at M&S being made available to Mr Green by the trustees of the fund.