Billions at stake as Forte steps up takeover war
Article Abstract:
A hostile 3.2 billion pounds sterling takeover bid from Granada, television and leisure concern, has prompted hotels and restaurants concern Forte to make a 1 billion pounds sterling agreed sale of its Happy Eater and Little Chef restaurant chains to brewing and catering group Whitbread. This will make Whitbread the largest restaurant operator in the UK, adding 430 Little Chef and Happy Eater outlets. The battle between Granada and Forte has now become very fierce and extremely personal.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1995
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Billion-pound feud over feeding the nation's millions
Article Abstract:
Forte's determination to fight off a hostile takeover bid from Granada could have wide-reaching implications for the provision of motorway services facilities, hotels and 'family' restaurants in the UK. Forte is willing to break up the group, and is now set to demerge its restaurant operations, which are mainly made up of the Happy Eater and Little Chef chains. It is also considering selling off some of its hotels. Granada was not prepared for such a fierce response from Forte.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1995
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Forte's 1bn pounds sterling giveaway defence
Article Abstract:
Hotel and restaurant chain Forte is prepared to take very bold steps as it fights off a hostile 3.2 billion pounds sterling takeover bid from Granada. It has given detailed information about hotel trading, and has also made a promise to shareholders that investment value will be boosted through a 662 million pounds sterling share buy-back. Granada will hold meetings with analysts and shareholders at which it will attempt to refute the points made in Forte's defence document.
Publication Name: The Independent
Subject: Retail industry
ISSN: 0951-9467
Year: 1996
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