TORONTO — Indigo Books & Music Inc. has agreed to be taken private after agreeing to a sweetened offer from a holding company connected to its largest shareholder. The retailer says its agreement will see Trilogy Retail Holdings Inc.
TORONTO — Indigo Books & Music Inc. has agreed to be taken private after agreeing to a sweetened offer from a holding company connected to its largest shareholder.
The Trilogy companies, owned by Gerald Schwartz, the spouse of Indigo chief executive Heather Reisman, offered Indigo $2.25 per share in cash in February. Indigo says an independent committee of its board of directors recently unanimously recommended the company accept Trilogy's latest offer. "We believe that this transaction will provide minority shareholders with a substantial premium for their shares following some challenging years for the business, while also ensuring a strong future for Indigo with full ownership by a team that has demonstrated a deep commitment to Indigo's mission," Indigo board chair Markus Dohle said in a statement.
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