Granada set for final tilt at Forte
Article Abstract:
Granada has to decide on whether an offer to acquire Forte should be increased following a skilful defense by Forte against the bid. Forte plans to sell roadside cafes operations for 1.05 billion pounds sterling to Whitbread. This would allow for a share buyback, in addition to increased dividends. Forte argues that it would be more oriented toward growth following planned disposals and Granada will have to convince shareholders that its management strategy would be superior.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Granada pushes Forte to the bitter end
Article Abstract:
Granada has increased its offer for Forte and the bid is likely to change Forte whether or not it is successful. Granada has stated that it would sell the Meridien and Exclusive hotels owned by Forte. Granada would sell a total of more than 2 billion pounds sterling worth of assets, including the Welcome Break service areas. Forte also plans asset sales in order to focus on its hotel business, arguing that it will be able to benefit from an improvement in the UK hotel trade.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1996
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Granada to break the bank for Forte
Article Abstract:
Granada is seeking to acquire Forte, and is offering 3.4 billion pounds sterling. This would be the largest acquisition made by Granada, which plans to sell part of Forte's assets, such as a 68% holding in Savoy. Other assets which could be sold nclude Welcome Break, a motorway service concern, and a number of prestige hotels and restaurants. Disposal of assets would reduce the debtincurred, but a rival bidder could lead Granada to increase its offer.
Publication Name: Investors Chronicle
Subject: Business
ISSN: 0261-3115
Year: 1995
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