On this day:
At 9.15am Sir Donald Stokes phones Sir Frank Kearton at his Courtaulds office to place on record that at no time did he push for Sir George Harriman to resign or be moved to a ceremonial non-effective position in the merged company.
At the Berkeley Square headquarters the Leyland directors decide to push for Sir George Harriman’s resignation, led by Jack Plane.
Sir William Lyons and Sir George Harriman arrive at the Leyland HQ where they are ushered into an office by Jack Plane who strongly lectures them on the state of BMH’s finances and tells Harriman, “…to get the hell out of it”.
Later that day Stokes writes to Harriman that Leyland could not go on with the merger due to the state of BMH’s finances.
That evening the BMH board, judging that a take-over bid is in the offing decide to agree to the merger on existing terms.