On June 28, Beatties revealed House of Fraser offered 168p a share to buy the retailer. On July 4, it announced it had received an unsolicited approach from an unnamed third party.
The move now leaves the playing field free for House of Fraser and the Beatties board has recommended to shareholders that they accept House of Fraser's offer.
Press reports following the July 4 announcement put Debenhams in the frame as the unnamed third party. However, the retailer has refused to confirm or deny its interest.