Bass Can't Get Comfortable At Holiday Inns

Not so long ago, British brewer Bass PLC was confidently talking about pouring $1 billion in cash into Holiday Inn. The goal? To spiff up the chain's aging network of 1,600 hotels. But now Bass is singing a different tune. A lawsuit it filed recently in U.S. District Court in New York claims the $2.25 billion it spent to complete the buyout of the chain from Promus Companies Inc. was a bum deal.

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