Granada Wins Takeover Battle

Granada’s takeover of Forte was confirmed today, with over 60% of Forte’s share capital accepting Granada’s offer. However, counting of acceptances was not complete by 2.30pm, so the final level of acceptances is likely to be higher.

Gerry Robinson, Granada’s Chief Executive, said, “We are naturally delighted with the outcome. Sir Rocco and his colleagues put up a powerful and spiritied defence. We said from the outset that we regarded this as a significant opportunity for Granada and that we could realise substantial value from it. Our job now is to take full advantage of the potential, for the benefit of existing and new shareholders alike.”