A merchant banker, unconnected with the bid, said the wording "came close" to breaching rule 3.1 of the Takeover Code because it did not make entirely clear that the board and its advisers - SBC Warburg, UBS and Morgan Stanley - held the same opinion.
A spokeswoman for the panel said: "I can confirm the wording in the document is unusual. However there is no question that the board and its advisers do not have different opinions. We anticipate more traditional wording in future documents."
Forte yesterday told City analysts that it would raise prices at Travelodge hotels by pounds 2 to pounds 36.50 a night. It added, however, that to raise prices further would lose customers.
Also yesterday, Granada claimed that it could boost Forte's profits by pounds 100m a year. Forte described the claim as rubbish and asked why Granada failed to explain how it would achieve the improvements.
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