M&S: Big guns in line for spoils

THE Marks & Spencer bid battle is showdown time for two of the Square Mile's Masters of the Universe. In the Green corner is Bob Wigley of Merrill Lynch, a longtime lieutenant of the Bhs boss. And in the Rose corner for M&S is Simon Robey, a star at Morgan Stanley.

Both men are multi-millionaires. Both are aged just 43. And both are determined to win.

Wigley, who lives in London's affluent Kensington, is widely seen as a significant power behind Green's throne. He is also a non-executive director of Royal Mail under former Asda boss Allan Leighton.

As well as advising Green on his takeover of Arcadia in 2002 - then run by Stuart Rose - he also advised GUS on its £2bn takeover of Argos, and Asda on its £7bn sale to Wal-Mart of the US.

M&S has marshalled a formidable defence, led by Robey, Morgan Stanley's most senior investment banker in the UK.

He lives in Islington, north London, and apart from being a City rainmaker is a director of Aldeburgh Productions, which stages the world famous music festival at the chi-chi seaside town in Suffolk.

Robey has taken the reins from Piers de Montfort, who headed Morgan Stanley's defence team against an earlier assault from Green in 2000, but is now on gardening leave before joining rival bank CSFB.

One set of advisers is never enough. The Green team also includes a battalion from Goldman Sachs, led by American banker Gordon Dyal. Funding for Green's possible £10bn bid will come from HBOS, Royal Bank of Scotland, Goldman Sachs and Barclays Capital.

Marks dramatically ousted blue-blooded City firm Rothschild as an adviser over the bank holiday weekend and drafted in a team from Citigroup led by heavyweight Robert Swannell.

PR agency Brunswick was also axed in the musical chairs at M&S, and replaced by rival Tulchan.

No-one knows yet who will win M&S. But one thing is for sure - the armies of advisers on both sides will emerge millions of pounds the richer.