Sir Philip Green, the owner of BHS and Topshop, has become the largest shareholder in Moss Bros, the men’s wear chain, paying £6.7m for the 28.5 per cent stake controlled by Baugur, the Icelandic investment group.

In a prelude to a possible takeover bid for Moss Bros, Sir Philip’s Warbeck Holding Company said in a stock exchange announcement on Wednesday that it was ‘considering its alternatives’, although there was no guarantee he would bid.

The price, which equates to 24.95p a share, represents a 58.5 per cent premium to Tuesday’s closing price. The shares soared on Wednesday to 27p in early afternoon trading, an increase of 11p, or 70 per cent, valuing the company at £25.3m.

Financial Times