Marks & Spencer chief executive Stuart Rose is hoping to dramatically turn the tables on bidder Philip Green by offering shareholders a GBP750m sweetener when he unveils his rescue plans for the group next week.

More cash could be made available later as Rose's recovery plan unfolds, perhaps billions of pounds over several years. The initial sweetener cash from M&S, in the form of a special dividend or share buy-back, will come from the sale and leaseback of dozens of M&S properties.