Ottakar's agrees to HMV takeover

UK book shop chain Ottakar’s agreed to a takeover by HMV today after conceding it faced a losing battle against supermarkets and online retailers.

Wed, 31 May, 2006 - 09:20

UK book shop chain Ottakar’s agreed to a takeover by HMV today after conceding it faced a losing battle against supermarkets and online retailers.

The deal for Ottakar’s is worth almost £63m (€92m), but is significantly lower than the £96.4m (€141m) offered by Waterstone’s owner HMV last year.

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CourtsBusinessHeathrowPlace: UKPlace: LondonPerson: ChairmanPerson: Philip DunnePerson: DunnePerson: WHPerson: SmithPerson: Alan GilesOrganisation: OttakarOrganisation: HMVOrganisation: WaterstoneOrganisation: Competition CommissionOrganisation: Amazon
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