In the stage of Grey hepatization-

Ref:Textbook of pathology (Harsh mohan)6th edition,page no. 469 GREY HEPATISATION: LATE CONSOLIDATION This phase lasts for 4 to 8 days Grossly, the affected lobe is firm and heavy. The cut surface is dry, granular and grey in appearance with liverlike consistency .The change in colour from red to grey begins at the hilum and spreads towards the periphery. Fibrinous pleurisy is prominent. Histologically, the following changes are present i)The fibrin strands are dense and more numerous. ii)The cellular exudate of neutrophils is reduced due to disintegration of many inflammatory cells as evidenced by their pyknotic nuclei. The red cells are also fewer. The macrophages begin to appear in the exudate. iii)The cellular exudate is often separated from the septal walls by a thin clear space. iv)The organisms are less numerous and appear as degenerated forms.