Unlike Slater, White and Hanson survived the British slump in the early 1970s, but the "quantum leap" which had been promised to shareholders did not come until 1979, the beginning of the
Margaret Thatcher era, which saw a move toward capitalism and a new respect for businessmen such as White and Hanson, who were not afraid to take on trade unions and break up established companies in pursuit of profit. White had been appointed
Knight Commander of the Order of the British Empire (KBE) in the
1979 Birthday Honours. The reduction in political support, signalled by Thatcher's resignation and honours notwithstanding, was the beginning of the end of the pair's takeover career. In 1991 White and Hanson bid for
Imperial Chemical Industries ("ICI"), one of the commanding heights of
British industry, in what was supposed to be the ultimate takeover. Apart from being symbolic of Britain's manufacturing and research base, ICI had plants and offices all over Britain, which made it a highly political issue for the many members of parliament whose constituents might be affected - including several in marginal Tory seats. Had they succeeded, White and Hanson may have acquired some of ICI's respectability with which to veneer their own wheeler-dealer reputation. On guard, ICI caused White and Hanson deep embarrassment when it revealed that White was not on Hanson's board and had spent and lost several million pounds of company money on his passionate interest in racehorses. ICI also showed that White and Hanson ran a string of offshore companies in tax havens. Furthermore, Hanson's son Robert, having been identified as the pair's likely successor, had been put in charge of the bid and had been shown to be naïve, dealing a severe blow to White and Hanson's succession plans. Their reputations now seriously damaged, White and Hanson had to withdraw before a formal takeover for ICI could be launched. At the time of White's death in 1995, the climate in which the Hanson group operated had changed as investors looked beyond the conglomerate to single-sector companies.
Hanson plc is now a British-based international building materials company, headquartered in London.
Horse racing White's horse
Legal Case (b.c. 1986) won the
Champion Stakes G1 in 1989 (jockey: R Cochrane; trainer: L Cumani). Reference Light (USA) won the Anzio Maiden Stakes (Div II)(2yo) in 1989 at Redcar (trainer: Sir Michael Stoute; jockey: WR Swinburn) and Evasive Prince (USA) won the EBF Willow Maiden Stakes (Div I)(2yo) at Lingfield in 1990 (trainer: Sir Michael Stoute; jockey: WR Swinburn). White entered two horses in the Jersey Stakes (Group 3)(3yo) at Ascot in 1990: Bold Russian which came second (trainer: BW Hills; jockey: Michael Hills); and Qui Danzig (USA) which came third (trainer: Sir Michael Stoute; jockey: WR Swinburn). ==Legacy ==