UK billionaire Philip Green may face a battle with several other interested parties, including US retail giant Wal-Mart, for control of UK food and clothing retailer Marks & Spencer, according to industry speculation.
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If Green goes ahead with a plan to bid an estimated £9bn (US$16.5bn) for M&S, it might prompt rival bids from other private equity groups and retailers, including Wal-Mart, which owns UK supermarket chain Asda, the Times reported, citing sources.
Green is believed to be searching for a new management team to head M&S if his bid goes ahead and succeeds, and may appoint himself as chief executive of the retailer.
