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Pinewood bid progresses

An Isle of Man-based billionaire's improved offer to buy Pinewood Shepperton now has the backing of the famous film studio.

John Whittaker's Peel Holdings increased its offer by £8 million to £96.1 million, in the face of rival interest from former Harrods owner Mohammed Al Fayed.

The deal remains subject to shareholder approval at Pinewood's AGM at the end of May, but the company is recommending acceptance.

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