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Article: INVESTMENTS: As the one real sin in investing is sentimentality,it pays to be hard-nosed. The Granada and Forte saga is a useful reminder of the general truths about investment
- Article from:
- The Independent (London, England)
- Article date:
- January 20, 1996
- Author:
CopyrightCopyright 1996 The Independent - London. Provided by ProQuest LLC. (Hide copyright information)
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Granada's takeover bid for Forte has been one of the most
ballyhooed for years, and resonates with echoes of the great
corporate free-for-alls of the mid 1980s. Next week it comes to a
climax when the big investment institutions will effectively decide
whether to give Granada its prize. My guess is that when the votes
are counted Granada will win, and for a simple and appropriate
reason. It runs a business better.
It is true that Forte's defence has been both startling and
dramatic, with the management unveiling more changes in a matter of
weeks than it has produced in the previous 10 years. Such a vivid
defence has certainly captured the attention of the City and the
big institutions, ...