Granada accused of hampering disposals
Monday 11 December 1995
Granada has asked the Takeover Panel to ensure any disposals considered to be material or important to the business of the Forte group should be put to shareholders for approval. Under rule 21 of the Takeover Code, the disposal of any asset worth more than 10 per cent of a company's value must be put to shareholders for approval during a takeover period. But the Granada camp has asked the Panel to enforce a further aspect of the ruling that ensures the disposal of any business considered material to the group, even if it does not account for 10 per cent or more of the group's value, should also be put to shareholders.
Forte said yesterday it was not doing anything that was "in any way against the rules". A spokesman said the company would press ahead with negotiations that had started well before the Granada bid was announced. Forte is reported to be in talks to sell its White Hart hotels chain for about pounds 100m.
A spokesman hit out at Granada's tactics saying, "One minute Granada is alleging that we are being slow to realise shareholder value. Now he [Granada chairman Gerry Robinson] is trying to slow us down."
- 1 Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
- 2 Disney heiress Abigail disowns her share of family profits in West Bank company
- 3 Israel's propaganda machine is finally starting to misfire
- 4 Zayn Malik on Israel-Gaza: One Direction singer bombarded with Twitter death threats after posting #FreePalestine
- 5 'Hello mum, this is going to be hard for you to read ...'
Russell Brand accuses FOX News anchor Sean Hannity of terrorism after aggressive Israel-Gaza debate
Sally Farmiloe dead: Howards' Way actress, and former mistress of Jeffrey Archer, dies aged 60
Sabina Altynbekova, the girl branded 'too good looking' for volleyball, says social media obsession with her is a 'bit much'
Disney heiress Abigail disowns her share of family profits in West Bank company
Australian model Robyn Lawley stages naked protest against huge coal mine seven times the size of Sydney Harbour
The secret report that helps Israel hide facts
Woman and two children killed by mob in riots over 'blasphemous' Facebook post in Pakistan
A day in the life of Vladimir Putin: The dictator in his labyrinth
Putin is 'thuggish, dishonest and reckless', says British ambassador to US
Richard Dawkins tweets: 'Date rape is bad, stranger rape is worse'
Boozy, ignorant, intolerant, but very polite – Britain as others see us
- < Previous
- Next >
iJobs Money & Business
£600 - £700 per day + competitive: Orgtel: Senior Investment Accounting Change...
£450 - £650 per day + competitive: Orgtel: My client, a leading bank, is curre...
£350 - £400 per day + competitive: Orgtel: Senior Analyst, ALM Data, Halifax, ...
£500 - £600 per day: Orgtel: Java developer - Banking - London - Up to £600/d...