Green still shy of Marks valuation

Billionaire Philip Green still isn’t offering enough to gain control of Marks & Spencer, even after increasing the value of his takeover proposal to €12.5 billion, some investors such as Bob Parker said.

Green, 52, yesterday said he plans to offer at least 370 pence a share in cash for London-based Marks & Spencer and was rejected by the company’s board for the second time this month. Investors also may choose to take some cash and an undisclosed amount of stock in the company formed to make the bid under Green’s proposal.