Retail tycoon Philip Green could take his bid for high street giant Marks & Spencer (M&S) to the United States this week, according to UK press reports.

The Arcadia boss and his advisers are expected to take their case to three US-based institutions, including the company's biggest individual stakeholder Brandes Investment Partners, to persuade them to back his takeover.

Despite selling a slug of 10 million shares last week, San Diego-based Brandes still holds around 12 per cent of the company, while fellow US institutions Capital Group and Artisan hold a further six per cent between them.

Meanwhile, Green is expected to table a third offer of up to 400 pence per share for M&S within the next fortnight, the Sunday Express reported without citing sources.