Qataris 'planning to make £8billion takeover bid for iconic

[The_Patriot]

Qataris 'planning to make £8billion takeover bid for iconic high street chain Marks and Spencer'




Marks and Spencer is bracing itself for an £8billion takeover bid from Qatar, according to reports.
The state-owned Qatar Investment Authority is reportedly planning to make a move on the iconic High Street chain and is forming a consortium.
The Gulf nation's sovereign wealth fund already owns Harrods, which it bought in 2010, and has a 26 per cent share in Sainsbury's.

Under threat? Qatar Investment Authority is reportedly planning a £8billion bid on Marks And Spencer
It also has a stake in Heathrow Airport.
The bid would equate to £5 a share and rumours in the City on Thursday and Friday helped fuel soaring trade.

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The Qataris are attempting to form a consortium and have approached private equity houses and banks, according to 'senior City sources' quoted by The Sunday Times.
However, it is believed that no official approach has yet been made to the chain.
Sales at M&S slumped by 1.8 per cent at Christmas and its share value stood at £6billion last week.
In 2004, entrepreneur Philip Green launched an unsuccessful hostile takeover bid for M&S.

Slump: M&S reported a 1.8 per cent drop in sales at Christmas and its share value stood at £6billion last week
The £9.1billion attempt equated to £4 per share but he was forced to walk away after failing to reach an agreement with the board and shareholders.
The chain, which employs 78,000 staff, has continued to report disappointing sales figures in recent months in difficult retail trading conditions.
General merchandise sales dropped 2.2 per cent according the third-quarter figures in January and like-for-like sales were down 3.8 per cent.
A M&S spokeswoman refused to comment today.


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[hydrogen]

They already own my entire town, lol. Now they want the local too.

But they've made Harrods 10x better

[STARKAST]

Why are they so obsessed with the U.K ? Those British Hedge fund mangers have them on lock. And Americans have them saudis on lock !

Inferiority complex much ?

[original dervish]

Its part of the deal.....the recycling of petro Dollars.
Goes something like this.......we buy your oil....and you give us our money back by way of investments eg bonds, stock, real estate etc.
If the refuse.....there is always the Qaddafi option.