Divided 王朝 直面するing crunch 投票（する）

By Andrew Leach
Updated: 00:00 BST, 14 September 2003

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IT started as a family 事件／事情／状勢. But the 戦う／戦い for 支配（する）／統制する of Caledonia 投資s, whose 利益／興味s 範囲 from banking to 高級な 訴える手段／行楽地s, is now pitting some of the City's richest and most 目だつ 指名するs against each other and 脅すing to 流出／こぼす some very blue 血 on the carpet.

The fallout from this most aristocratic of 財政上の tussles could be felt around the Square Mile for years to come.

Caledonia is the £694m public 直面する of the 最高の-豊富な Cayzer family, whose 巨大な fortune was 設立するd in 1878 when a Scottish schoolmaster's son 始める，決める up the 一族／派閥 Line steamship company, which was 運命にあるd to become one of the largest 貨物 (n)艦隊／(a)素早いs in the world.

Today the Cayzer 信用, whose hundreds of 株主s are all family members, owns 37.4% of Caledonia while individuals in the sprawling 一族／派閥 支配（する）／統制する a その上の 12%. And while some of them are happy with Caledonia's 業績／成果, others, 含むing the 71-year-old patriarch of the 王朝, Sir James Cayzer, are distinctly unimpressed.

They （人命などを）奪う，主張する the 投資 会社／堅い 貿易（する）s at too big a 割引 to the £850m value of its 資産s. They want the 商売／仕事 （負債など）支払うd and cash 手渡すd 支援する to 株主s.

Next month the divided Cayzer family will 会合，会う to decide on the company's 未来. It is likely to be a 嵐の 会合.

In fact Sir James makes an 極端に ありそうもない 反逆者／反逆する. A friend of the late Queen Mother, he has a (n)艦隊／(a)素早い of Rolls-Royces, though he cannot 運動, an 8,000-acre 広い地所 in Perthshire and a 永久の 控訴 of rooms at 最高の，を越す London hotel Claridge's.

His family 支持者s 含む his 甥s Nigel Cayzer and Lord Rotherwick, 同様に as Ian Molson, a member of the Canadian brewing family, who married into the Cayzer family.

Sir James has been trying to 改革（する） the Cayzer 信用 and Caledonia for several years, but the （選挙などの）運動をする has now 伸び（る）d fresh impetus with a collection of pukka City 人物／姿／数字s and 基金 経営者／支配人s joining his 原因（となる）. The 反逆者／反逆するs have brought on board Sir John Craven, former 長，指導者 (n)役員／(a)執行力のある of 投資 bank Morgan Grenfell and the man who helped to break up the Lonrho 複合的な／複合企業体 and sold the Fleming family's 投資 bank.

Craven 目的（とする）s to 議長，司会を務める two companies - one would 分配する the proceeds of a break-up of Caledonia, the other would o perate as an 投資 乗り物 for the Cayzer family. His 長，指導者 (n)役員／(a)執行力のある would be Nick Morrell, who helped to shake up Lonrho.

Other 提案するd directors read like a Who's Who of the City, 含むing former London 在庫／株 交流 副 chairman Stanislas Yassukovich. Also in the 反逆者／反逆する （軍の）野営地，陣営 are two high-profile City 会・原則s, Hermes and Schroders, giving them a total of about 20% of Caledonia's 株, but they are hoping to 紅潮／摘発する out more support. Craven said: 'We are very serious about this. Our 提案s are in the best 利益／興味s of all 株主s.'

His （人命などを）奪う，主張するs are 否定するd by Caledonia, whose chairman is Sir James's cousin Peter Buckley, who also 議長，司会を務めるs the Cayzer 信用. The 長，指導者 (n)役員／(a)執行力のある is Harrow-educated former Abbey 国家の 銀行業者 Tim Ingram. He said the company had outperformed the wider market, the gap between its market value and the value of its 資産s had been 狭くするing and that the 反逆者／反逆するs' 提案s would 'destroy' the company.

'We would like this to go away, but all we can do is keep running the company in the long-称する，呼ぶ／期間／用語 利益／興味s of all 株主s,' he said.

As this most articulate slanging match 増大するs, 分析家s say hedge 基金s are moving in on the 株 and acquiring 火刑／賭けるs that could 証明する 決定的な if the break-up 計画（する）s ever come to the 投票（する）.

The Cayzer 信用 recently made a rare public 告示 that the 大多数 of its 株主s 支援するd the Caledonia board, though it has called next month's 会合 to 確認する that position.

Sir James and his 支持者s are likely to ロビー their 肉親，親類 in the runup to the 会合, but even if they lose the 投票（する）, the 戦う／戦い for Caledonia's 未来 is 始める，決める to run and run. Other institutional 株主s in Caledonia are said to be ready to join the 反逆者／反逆するs.

With Caledonia's 火刑／賭けるs in 商売／仕事s such as the £1.1bn の近くに Brothers seen as 可能性のある 壇・綱領・公約s for 入札者s, the repercussions of this family spat could 激しく揺する the Square Mile.