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  • Peter Smith

MONDAY 6TH DECEMBER 1999; This is War!


We make a Stock Exchange announcement, as a "response to week-end press speculation", saying that meetings have been held with both bidders, RBS on November 28th and BoS on the 3rd. The RBS approach was to try and get their offer recommended, which is common knowledge. The BoS meeting apparently signaled a less hostile approach by their management team, but while it demonstrated "movement in the right direction", we claim that it also "raises serious questions about the judgement of the leadership" of BoS. We still don't believe their promises and savings claims.


This looks like a bit of a breach of trust, as I am sure BoS thought this was a confidential meeting, but I suspect our top people believe that all is fair in love and war- and this is a war. Actually, I could see Sir David as the sort of military leader who you would want on your side, charming, intelligent but ruthless. He would inspire total loyalty in his troops - over the top and into the gunfire with Sir David!

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