Trilogy Retail Holdings and Trilogy Investments, which are controlled by Schwartz, made an unsolicited offer to acquire the Indigo shares they don’t already own for $2.25 each, the bookseller said Thursday after markets closed. The struggling retailer’s shares, which had finished the day at $1.48, soared 51 per cent on the Toronto Stock Exchange when trading began Friday. (The Logic)

Talking point: Schwartz, the billionaire private-equity pioneer, is the husband of Indigo CEO Heather Reisman, and sits on Indigo’s board; his Trilogy group already owns nearly 61 per cent of the company’s issued and outstanding shares. Indigo said a special committee of independent directors will evaluate the proposal, as well as any viable alternatives, but did not answer The Logic’s questions. The company has struggled financially for years and had a tumultuous 2023 with a cyberattack, along with boardroom and executive shakeups. Reisman returned as CEO in September, and the company launched a transformation plan to refocus on its bookselling origins. In January, it laid off an unspecified number of staff.