LONDON: Britain's Marks & Spencer has rejected a £9.1bil takeover offer from retail tycoon Philip Green, but the door remains open for a deal if investors baulk at M&S's own recovery plan.
In a statement, chief executive Stuart Rose's board said Green's 400 pence-per-share cash bid undervalued Britain's top clothing retailer and added it was confident it had better prospects of turning around the ailing group.
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