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."
Culinary experts in The Netherlands thought it was 'fresh' and 'tasty'
Of all the computers Apple has ever made there’s only one that Steve Jobs had to sell his car to finance
Marvel has released first teaser trailer week early after it leaked online
- 1 As an ex prostitute, I urge all the political parties to commit to the Sex Buyer Law
- 2 Nokia no more: Microsoft drops once-ubiquitous mobile name – in favour of its Lumia brand
- 3 Renee Zellweger on plastic surgery: 'I'm living a fulfilling life and I'm thrilled that perhaps it shows'
- 4 Australian café owner sparks debate after saying 'No' to having unruly children on premises
- 5 Couple die within 28 hours of each other after being married for 73 years
Renee Zellweger on plastic surgery: 'I'm living a fulfilling life and I'm thrilled that perhaps it shows'
Isis releases first video showing the stoning of woman accused of committing adultery as her father shouts 'don't call me Dad'
Banksy not arrested: Internet duped by fake report claiming artist's identity revealed
Diwali: What is the festival of lights and how is it celebrated around the world?
Nelson Bunker Hunt dead: Former world’s richest man dies in 'modest circumstances' in US after losing his fortune
Cameron is warned 'no possibility' of UK reducing immigration and that bid to bring in quota on migrant workers would be illegal
Of course, teenage girls need role models – but not like beauty vlogger Zoella
Support for EU membership 'at highest level since 1991' with most Brits wanting to stay 'in'
Residents should throw a street party and mix with immigrant neighbours, councils told
Russell Brand threatened with arrest after filming outside Fox News headquarters
London bus driver 'kicks gay couple off for kissing'
iJobs Money & Business
£350 - £360 per day: Ashdown Group: SQL Developer with T-SQL, Watford, Hertfor...
£24000 - £28000 per annum + bonus & benefits: Ashdown Group: IT Business Syste...
£18000 - £23000 per annum + Commission: SThree: The SThree group is a world le...
£18000 - £23000 per annum + Comission: SThree: The SThree group is a world lea...