Over the weekend Granada sent LWT shareholders a letter reminding them that LWT’s share price is likely to drop if their offer is rejected.
Sir Christopher Bland, LWT chairman, urged shareholders to ignore the tactic and await this week’s profit estimate.
The profit forecast is expected to reveal that 1993 profits have jumped 30% to £40m, but this may not be enough to fend off Granada now that the tactic of linking with Yorkshire has failed.
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