Moss Bros is unlikely to consider any bid from stalker Kevin Stanford unless he offers at least£1.30 a share. The price now is 87p.
Stanford has acquired a 28 per cent stake in Moss Bros via contracts of difference, sparking talk that he would mount a takeover.
Analysts speculated that Stanford, who sold his stake in Karen Millen last month for an estimated£60 million, could offer£1 a share. That would value Moss Bros at approximately£91.5 million.
'He would need to go higher than that,' said one source familiar with Moss Bros's thinking. 'There is an enormous amount of upside in the business.'