I suspect at the end of the day he would have liked to have bought it but with all the hedge funds in there that he wasn't prepared to pay, given trading, a huge amount for it.
More Quotes from Richard Ratner:
We still worry about next year, with fierce competition at the value end of the market, and...still look for a ceiling of around 800 million pounds on (fiscal year profits).Richard Ratner
It looks as if he is going of his own volition which is a clear indication of where he thinks the business is going.
Richard Ratner
We question whether anyone will bid for the company.
Richard Ratner
This looks like a knock-out bid as the management, in our view, would be unable to raise the additional finance.
Richard Ratner
Whilst the last time it was a '24-hour wonder', we think that there may be a reasonable chance that a deal could go through this time around, but it will take time for an offer to be formulated.
Richard Ratner
Marks Spencer was among only a few retailers to make gains, closing up 2p at 382p after the chief executive Stuart Rose unveiled the group's Cardinal Place store, its first new opening in central London for over a decade. There is little doubt that MS will achieve top of the range estimates, even if the all-important third-quarter like-for-like sales are down 4 on non-food, ... what we worry about is the ability to grow profits.
Richard Ratner
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