Granada's Last Shot in Battle of Little Chef
Horsman, Mathew, The Independent (London, England)
Granada, the television and leisure giant, was expected to raise its bid for Forte this morning in a last-ditch effort to win a hostile takeover battle.
There was also speculation it would pounce in early trading today, attempting to snap up a block of Forte shares to anchor its takeover bid.
At stake is ownership of Forte's chain of luxury, mid-market and budget hotels, as well as its 420 Little Chef and Happy Eater restaurants.
The consensus in the City was for an increased offer in cash and shares worth about 370p, and a fully funded cash offer of about 350p, valuing Forte at about pounds 3.6bn.
Granada was also expected to …
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Publication information: Article title: Granada's Last Shot in Battle of Little Chef. Contributors: Horsman, Mathew - Author. Newspaper title: The Independent (London, England). Publication date: January 9, 1996. Page number: 3. © 2009 The Independent - London. Provided by ProQuest LLC. All Rights Reserved.
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