Ottakar’s has accepted a £62.8mn bid from HMV, owners of Waterstones. Since the Competition Commission has already okayed a merger of the companies, it seems inevitable that Ottakar’s and Waterstones, the two top book stores in the UK, will come under the same management.
Last year, the HMV bid was worth 440p a share, but today, after an awful year for both book retailers, the bid will be worth just 285p.
Rumours have suggested that WH Smiths was interested in buying Ottakar’s.
© Investment & Business News 2013