Ottakar's Bid Buzz As Wh Smith Splits and Clears Its Debts

Evening Standard - London › April 12, 2006

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Summary

WH SMITH was today seen as a surefire bidder for the Ottakar's bookstore chain after it eliminated its debts and declared it would split off its newspaper distribution arm.

News that a Pounds 30 million repayment leaves the company debt- free means it is therefore easily capable of striking out with chunky takeovers. Ottakar's, which is already expected to attract renewed bid interest from Waterstone's owner HMV, is seen as a definite bid target for Smith.

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Extract

Ottakar's Bid Buzz As Wh Smith Splits and Clears Its Debts

The Competition Commission recently granted approval for an HMV takeover but that decision mer...

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