Saturday, 17 July, 2004

M&S has been voted the top retail brand by consumers

BBC Radio 4's Money Box was broadcast on Saturday, 17 July, 2004, at 1204 BST.

The programme was repeated on Sunday, 18 July, 2004 at 2102 BST

After failing to win sufficient support from Marks & Spencer shareholders, retail billionaire Philip Green has walked away from his attempt to buy the struggling company.

Green, who has pledged to take the battle from the boardroom to the high street, said he had been treated with "contempt" by the company's board which rejected his informal bid of £9.1bn.

Shares in Marks & Spencer fell on Thursday morning by around 20p but still retained a higher value than before the takeover battle got underway.

Analysts say the premium reflects faith in a turnaround strategy put in place by new chief executive Stuart Rose, who has also unveiled a £2.3bn windfall for shareholders.

But are shareholders right to put their faith in Stuart Rose? Or have they missed out on a great deal?

We spoke to Tony Craze, from stockbroker TonyCraze.com.

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Producer: Jennifer Clarke
Presenter: Paul Lewis
Web Producer: Jayne Douglas