Pension Problem Sidelines Smith Deal; Hodder Will Be Sold to Soothe Shareholders WH Smith “Has suspended discussions with Permira pending clarification of the level of any possible offer,” based on the expectation that the company’s massively underfunded pension makes Permira’s original bid of $1.7 billion unsustainable. A Permira spokesperson says they are still talking to pension fund officials and “We intend to revert to the company in due course.” But now disillusioned shareholders — who had bid the stock up when the offer was first made (it fell another 6.5 percent after yesterday’s announcement) — need to be satisfied, and […]
