Blog: M&S takeover bid hots up...
Leonie Barrie | 3 June 2004
The M&S takeover battle was always going to be one of the highlights of the summer, but less than a week in and the pace seems to be really hotting up. The appointment of Stuart Rose as the new chief executive was a clear sign that M&S intends to fight for all it’s worth and some pretty heavy salvos have been flying already. Not only has M&S won a ruling blocking Mr Green's lawyers from advising him due to a conflict of interest, but an offer of around £9 billion has been rejected on the grounds that it “undervalues the group.”
The speculation now is whether Mr Green will return with an improved offer, and whether shareholders buy into his vision for returning M&S to its former glory. Judging by the questions he’s asking on the exact nature of the agreement between M&S and George Davis’ Per Una line, some sweeping changes could be in store. The saga could unfold in other ways too. For instance, are other bidders likely to step into the fray? Or does the new management team have the ability to revive the business after several years of failed attempts by their predecessors? That’s the gamble the shareholders must take of course.
Fashion retailer H&M and UK based glove and leather manufacturer Pittards both say they are monitoring the situation in Ethiopia closely after the country's government declared a state of emergency af...
Increasing competition for garment sourcing contracts is seeing China not only being challenged by other countries in Asia, but by sub-Saharan African and even Russian suppliers too. And it is pushing...
The monthly minimum wage for workers in Cambodia's textile, garment and footwear sector is set to rise to $153 from January next year, following a vote on the issue last week. The increase marks a ris...
The results of two highly-anticipated initiatives in the sportswear sphere were revealed last week: the launch of Under Armour’s new UAS lifestyle brand and the first pair of running shoes created at ...
- Fashion fit for the future – strategies for speed
- Digitisation to drive new apparel-making models
- Will new Vietnam wage hinder competitiveness?
- Under Armour Lighthouse will disrupt production
- Pakistan industry seeks help to kickstart exports
- Child refugees found in Turkey apparel factories
- Chinese manufacturer invests $20m in US facility
- US Q3 in brief - Rocky Brands, Gymboree Corp
- Reebok Liquid Factory reinvents shoe production
- Managing change in the move to new tech tools
- Africa-Med strategic sourcing review – comparing East Africa, North Africa and Turkey
- REPORT BUNDLE: Africa-Med, Southeast Asia and Central America strategic sourcing pack
- Southeast Asia strategic sourcing review – a focus on Cambodia, Vietnam and Myanmar
- Apparel (GLOBAL) - Industry Report
- Global Sports and Fitness Wear Market 2016-2020