'Successful’ M&S cash call expected despite Brexit

By Aidan Gregory, Sam Kerr
22 May 2019

UK retailer Marks & Spencer has set the terms on its fully underwritten £601m rights issue with shareholders already understood to be supportive of the deal, despite the risk hanging over the UK.

Morgan Stanley is the sole global co-ordinator for the company’s strategic equity raise.

M&S said in February that it would turn to shareholders to fund the majority of its £750m joint-venture (JV) with the online food platform Ocado.

Under the new JV, M&S will acquire 50% of ...

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