THE Co-operative Wholesale Society in Britain yesterday said it had accepted a "substantial sum" in settlement of its claim for damages against the three men and two companies involved in the aborted takeover bid.

The co-op said it had now ended its legal action for damages against entrepreneur Mr Andrew Regan, his two companies Lanica Trust and Galileo, Mr Allan Green, a former co-op manager, and Mr David Lyons, an adviser to Mr Regan.