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| February 01, 2003 | COPYRIGHT 2003 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

(From Financial Director)

Fate is an awful thing to tempt, so you have to feel sorry for Merrill Lynch which recently issued a bearish circular on a FTSE-100 company.

It poured cold water on press speculation of a leveraged buy-out from Royal Bank of Scotland. This was not a new idea, indeed the company in question "has had to endure almost continuing speculation of a bid in various forms for the past six months, if not six years. In our ...

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