FSA closes books on M&S

No action over share trading before Green bid
The Financial Services Authority has ended its investigation into share trading in Marks & Spencer in the run-up to Philip Green’s potential bid for the business.

The FSA launched a probe into the purchase of M&S shares by a number of people, including Stuart Rose, before the announcement of a possible takeover by Green’s company Revival Acquisitions on May 27.
Rose, now chief executive of M&S, had already been cleared, having bought the shares before he either knew of Green’s interest or was approached by M&S.
The FSA said its investigation into this matter is now closed.

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