Shares in department store group Selfridges have soared 20 per cent as excitement built around a possible takeover bid from Scottish entrepreneur Tom Hunter.
The company, famous for its flagship store on London's Oxford Street, confirmed an unnamed bidder had offered a "substantial premium" to Wednesday's closing share price of 244.5p.
It is thought Mr Hunter is behind the possible bid.
Yesterday the shares were up 47p at 305p, valuing Selfridges at around £470 million.
Mr Hunter, who recently failed in attempts to buy both House of Fraser and Allders, made his fortune with Sports Division but has remained interested in the High Street and is a shareholder in BhS.
Besides Mr Hunter, other suggested bidders have included Icelandic retailer Baugur, which has a 0.5 per cent stake in Selfridges, and property group British Land, a former shareholder.
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