LONDON Bass Plc and Millennium & Copthorne Plc will probably make a joint $5.2 billion bid for the Forte hotels group owned by Granada Compass Plc, the Sunday Telegraph newspaper reported, without citing its sources.
Millennium & Copthorne will acquire some of the Le Meridien chain while Bass intends to convert some hotels into its own Inter-Continental brand. The Posthouse chain will be split between the two bidders and some of the properties may be sold. The joint bid will probably be agreed to this week, the paper said. (1/14/01)
SOURCE:Bloomberg News