LONDON — Marks and Spencer Group plc shares spiked almost 7 percent on the London Stock Exchange Tuesday amid rumors of a potential takeover bid for the company.
Potential suitors named in the British media included Sir Philip Green, the owner ofTopshop, who made an unsuccessful play for M&S in 2004. A spokeswoman for Green declined comment. Reports also suggested supermarket chain Sainsbury’s could be working on a tie-in with the retailer. A spokeswoman for Sainsbury’s said the company does not comment on speculation.
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