The book seller’s independent board committee unanimously recommended it agree to Schwartz-controlled Trilogy Retail Holdings and Trilogy Investments’ acquisition offer of $2.50 a share in cash, up from $2.25 a share. The deal is subject to court and shareholder approvals, and is expected to close this June. (The Logic)
Skip to content
The book seller’s independent board committee unanimously recommended it agree to Schwartz-controlled Trilogy Retail Holdings and Trilogy Investments’ acquisition offer of $2.50 a share in cash, up from $2.25 a share. The deal is subject to court and shareholder approvals, and is expected to close this June. (The Logic)
Talking point: Schwartz is Indigo CEO Heather Reisman’s husband and a director on the retailer’s board. His Trilogy group already owns nearly 61 per cent of Indigo’s issued and outstanding shares. Indigo’s shares jumped more than 22 per cent on the news, reaching $2.46 apiece in intraday trading. The company has struggled financially leading up to the go-private deal, reporting a 71-per-cent profit drop in its most recent quarter, the all-important holiday season. The company has recently experienced a cyberattack, laid off workers and undergone a number of boardroom and executive shakeups.
Loading...
Thanks for sharing!
You have shared 5 articles this month and reached the maximum amount of shares available.
CloseThis account has reached its share limit.
If you would like to purchase a sharing license please contact The Logic support at [email protected].
CloseGift the full article!
You have gifted 0 article(s) this month and have 5 remaining.
Recipients will be able to read the full text of the article after submitting their email address. They will not have access to other articles or subscriber benefits.
Most Popular This Week
In-depth, agenda-setting reporting
Great journalism delivered straight to your inbox.
News
What makes a nuclear reactor Canadian? Billions of dollars ride on the answer
Briefing
Trump administration tries to speed up quantum development, defences
Shopify to ban vapes from U.S. shops
Ballard to buy U.K.’s GeoPura for US$400M
Best business newsletter in Canada
Get up to speed in minutes with insights and analysis on the most important stories of the day, every weekday.
Exclusive events
See the bigger picture with reporters and industry experts in subscriber-exclusive events.
Membership in The Logic Council
Membership provides access to our popular Slack channel, participation in subscriber surveys and invitations to exclusive events with our journalists and special guests.
