Equity firm targets £800m HMV swoop

MUSIC and books retailer HMV is reported to be an £800 million (€1.1 billion) takeover target of private equity firm Permira. Financial advisers have been appointed by Permira, which could approach HMV this week.

HMV, which owns the Waterstone’s book chain, is considered vulnerable to a takeover because its share price is at a two-year low. Sales fell 5.5% over Christmas at HMV and 2.4% at Waterstone’s.