Osmond places giant personals ad 20 Feb 2003 His interest in SixCon could be rephrased: "Rich white male seeks partners". Osmond's plan to break up SixCon's hotels arm may have merits. But Osmond still needs to show the colour of his currency and spell out what price he wants to extract for himself.
Pizza Express mulls management buyout 16 Dec 2002 The UK restaurant chain turned down former coowner Hugh Osmond. Now management may be stepping in where he was stymied. Shareholders may not see a higher offer though.
Six Continents demerger is right plan, wrong time 5 Dec 2002 The separation of pubs and hotels is still a good idea, even though both are performing poorly. Others should follow suit. The problem is timing. As the businesses suffer, SixCon has been stingy with promised dividend payouts.
Pizza Express makes the worst of a bad market 12 Nov 2002 The UK pizza market is certainly overcrowded, but the company's solution launching new formats and products is the wrong one. It needs to focus on its core business.
Diageo has few alternatives to Burger King buyout 7 Nov 2002 Even though it s not a distressed seller, the spirits group will have to accept a haircut and plenty of strings attached to close the deal. What else can it do? The business isn t performing. An IPO is a nogo. And a demerger might value BK at about $1.5bn.