Private equity firm fails to agree terms of bid
Private equity house Permira is not likely to table a bid for music and entertainment retailer HMV this week, having failed to agree on the terms for a deal.
HMV has been at the centre of fervoured speculation about its future after City talk of a move by Permira forced the retailer to admit that a third-party approach had been made.
However, it appears that the widely expected approach from Permira will not be tabled this week after all, because the acquisitive business is not yet ready to make its move.
HMV is still waiting on the outcome of a Competition Commission investigation into its proposed takeover of book chain Ottakar's by its bookselling business Waterstone's.
Yesterday, Waterstone's founder Tim Waterstone added yet another dimension to the increasingly complex situation when he was linked to a bid to buy back his own company from whoever ultimately ends up owning it.
No comments yet