I want my baby back
The bid by HMV, owner of Waterstone’s, the largest retail bookseller in the U.K., to buy the Ottakar’s bookstore chain just took an unexpected turn. The Guardian is reporting that Tim Waterstone, who started the chain in 1982 before selling out to W.H. Smith in 1993, wants to buy his stores back from HMV, who bought the company from W.H. Smith in 1998. Waterstone is offering £280-million for his old chain, but only on the condition that HMV drop its bid to purchase Ottaker’s. No word yet from HMV on the offer, but the company’s stock price has risen 3% since Waterstone’s bid became public.
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