Reputation Monitor: Canary Wharf bid raises Morgan Stanley profile

Morgan Stanley made it into the top three of this week’s Reputation Monitor after Canary Wharf said it would recommend the US investment bank’s £1.7bn takeover offer to its shareholders.

The London Docklands development company said it would back the bid through investment vehicle Songbird because it had a higher cash component than rival offers. Morgan Stanley Real Estate Funds, the division bidding for Canary Wharf, is advised by Tulchan Comms.

Budget airline Ryanair climbed three places to second position after airport operator BAA reported a 16 per cent rise in passengers travelling from Stansted Airport, one of the airline’s main hubs, for the year to 31 March.

Tesco’s dominant position was unchallenged for the second consecutive week. The supermarket announced it would slash prices by around 11 per cent, the second time it has cut prices this year.

Marks & Spencer hit the bottom of the table after reporting a 5.2 per cent drop in fourth-quarter general merchandise sales. M&S, which retains Brunswick for financial comms, also received criticism of chairman Luc Vandevelde’s part-time role.

Despite the controversy over Shell’s disclosure practices, it stayed above Equitable Life in the table. Shell has brought in Brunswick to advise it on the situation.

The ranking is compiled from Thomson Intermedia’s National News Index, a measure of media sentiment that excludes stock market reports and passing mentions.

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