The shareholders have judged my record in Australia and they're hoping I can do the same in this country Rupert Murdoch

But the deal was fiercely opposed by the Carr family, who owned around 30% of the shares and ran the company. They joined forces with Mr Murdoch's News Ltd group and rejected Pergamon's bid as "completely unacceptable".

Unaware of what Mr Murdoch was plotting behind the scenes, Mr Maxwell increased his offer by an extra £8m, bringing the bid to 50 shillings (£2.50) per voting share, a price regarded in the City as being very generous.

But when the offer was put to the vote, shareholders chose to support the Carr family and Mr Murdoch.

Afterwards, Mr Maxwell accused News Ltd of using "the laws of the jungle" to win the deal, he said: "Pergamon Press made a fair and bona fide offer in October which has been frustrated and defeated after three months of (cynical) manoeuvring."

Mr Murdoch denied any dirty dealing, saying: "The shareholders have judged my record in Australia, I presume, and they're hoping I can do the same in this country, with this company."

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