- Suit retailer Moss Bros said it would fight a move by Brigadier Acquisition to drop a £22.6m bid for the company.

Moss Bros said it had been informed by Brigadier, which owns the Crew Clothing brand, that it had applied to the UK's Takeover Panel to allow its 22p per share offer to lapse.

Moss Bros said it was noting a requirement that the bidder could not let an offer lapse unless the reason was of 'material significance' in the context of the offer.

'The board confirms that it will take all necessary action to make its case that those requirements have not been met and that the offer should not therefore be permitted to lapse,' Moss Bros said.

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