Ottakar’s Accepts Low Bid Having rejected a bid thought to be around 285p a share a couple of weeks ago (when its stock was trading at about 330p), the desparate board of Ottakar’s has now accepted a bid of precisely 285p from HMV. Since rejecting the first bid, Ottakar’s stock had plunged, spurred by another bad earnings report, but was still at 287p yesterday before the offer was accepted. Worth just under 63 million pounds overall, the bid is about a third less than HMV was prepared to pay last September. As Publishing News notes, however, shareholders will have until […]
