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Industry: Email Alert RSS FeedBid for Ottakar's agreed by HMV
M2 Best Books, May 31, 2006
M2 BEST BOOKS-(C)2000-2006 M2 COMMUNICATIONS LTD
HMV Group Plc (LSE:HMV) has announced that it is to acquire UK-based bookseller Ottakar's for GBP62.8m.
The HMV Group currently owns the chain of HMV music stores and the Waterstone's bookshops.
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According to Reuters, HMV is to pay GBP2.85 in cash for each Ottakar's share, which is below the GBP4.40 that the company had originally agreed to pay in September last year.
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