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M&S moves to defeat £9.1bn bid

MARKS & SPENCER was last night waiting to discover whether it has done enough to defeat a potential £9.1 billion (€13.6 billion) offer from tycoon Philip Green.

Tue, 13 Jul, 2004 - 01:00

David Winning

The retailer unveiled a blueprint for the future that included a £2.3 billion (€3.45bn) windfall for shareholders and the sale of its financial services arm.

Chief executive Stuart Rose pledged to go back to basics after admitting M&S had "neglected, confused and disappointed" its core customers.

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