GUS granted takeover appeal

GREAT UNIVERSAL STORES has been granted an appeal by the Takeover Panel regarding its complaint over claims made by the former board of Argos during last year's hostile takeover bid.

The panel executive has already considered GUS's claims and ruled there is no case to answer. This still stands. However, GUS has been granted the right to appeal to the full panel, which will decide whether the executive's findings should stand or the case be heard again. The hearing is expected in the next few weeks.