LONDON Bass has withdrawn from Compass Group s 3.5 billion pound, or $5.1 billion Forte hotel auction, The Times reported. Bass is said to have left an offer on the table for Forte s Posthouse brand while conceding defeat in bidding for the bigger Meridien chain, the paper said.
Bass withdrawal could pave the way for either Nomura or Marriott to clinch a deal, although analysts suggested that other parties had recently returned to the fray. (2/14/01)