HOSTILE BID MADE FOR CHAPTERS CHAIN
By Adnews Staff
Toronto-based bookstore chain Chapters has rejected a $63 million bid by Heather Reisman, CEO of Indigo Books, and her husband Gerald Schwartz to acquire 50.1% ownership of the chain, according to media reports. The bid was made Tuesday by Trilogy Retail Enterprises, a private company owned by Reisman and Schwartz. If successful, the takeover would have resulted in the merger of the two chains. Reisman and Schwartz are the largest shareholders of Indigo, holding a 48% stake in the company. Trilogy currently holds a 9.5% stake in Chapters.
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