I'd forgotten that this ongoing story hadn't reached its conclusion. The shareholders of independent book chain Ottakar's have finally agreed to sell out to HMV, who will merge it with their Waterstones chain. HMV's takeover of Ottakar's was not without controversy, of course, but was cleared by competition authorities a few weeks back. But then HMV started renegotiating their offer to buy the firm because the value of the independent chain had fallen. In the end Ottakar's board agreed to a £63 million takeover - at one point HMV had provisionally offered £96 million.
Jun 1, 2006
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1 min read
Ottakar's accept new HMV takeover offer
Ottakar's shareholders have accepted HMV's revised £63 million takeover offer, with the book chain to merge with Waterstones.