For those bemused by all this, the term reverse ferret originates from Kelvin MacKenzie's time at The Sun and is a phrase used to describe a sudden reversal in an organization's editorial or political line on a certain issue. Yesterday's offer was increased to £61.4m, on condition that Ashley becomes chief executive and Debenhams drops its refinancing plans. Fast forward just a few hours to this morning and the picture looks a little different (are you sensing the Brexit parallels now? Shares in Debenhams jumped more than 40% on the news of the refinancing deal being completed. Did anyone mention a reverse ferret?

Source: Forbes March 29, 2019 13:41 UTC