An heir to Lord Hanson, who is 70, has not been named.

Lord Hanson was forced to back down from the takeover.

And it comes a year before Lord Hanson's announced retirement.

Lord Hanson had purchased 2.8% of the firm, but backed down from the takeover.

Lord Hanson, industrialist, who lived on the outskirts of the village.

Lord Hanson ran his empire in close consultation with a small group of loyal advisers.

Lord Hanson's personal wealth was estimated at between $100 million and $200 million.

Lord Hanson keeps a finger on British operations and serves as company front man.

The company was acquired by Lord Hanson in the 1968 for £4.7 million.

Lord Hanson will not want to ruin a fine track record by acting in haste.