Debenhams takeover fight looming

Members of the management team at high street department store Debenhams were today thought to be scrutinising a long-awaited formal £1.54bn (€2.17) takeover offer.

Shares in the group edged 3p lower to 430.5p as reports said that private equity firm Permira had finally tabled a formal offer for the business at the level it indicated more than two months ago.