Happily eating into Forte

Article Abstract:

Gerry Robinson, chief executive of Granada, has handled his company's bid for Forte extremely carefully. He has not been openly critical of Sir Rocco Forte, but has managed to convey the impression that the latter is not acting firmly enough to protect his company. Granada has stated that Forte's assets have been undermanaged, with shareholders not receiving the value to which they should have been entitled. In contrast, Forte does not seem to be taking Granada's bid very seriously.

Management, Beliefs, opinions and attitudes, Forte Hotels, Robinson, Gerry

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The barbarian at Rocco's gate

Article Abstract:

Granada, which was recently successful in a hostile takeover bid for hotel and restaurant chain Forte, had been planning the bid for a considerable length of time, but managed to keep this a secret. It regarded Forte as particularly attractive because the latter concern was an underperforming operation with valuable assets and at an ideal stage for a takeover. The deal will inevitably have a significant impact on leisure operations in the UK.

Mergers, acquisitions and divestments, Hospitality industry, Forte Ltd.

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