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HMV continues to snub Permira takeover offer

Matt Martin avatar
News by Matt Martin Contributor
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HMV Group has once again dismissed a revised takeover offer from Permira Advisors Limited of 210 pence per share. It follows last month's rebuttal of an offer valuing the retailer at 190 pence-a-share.

The retailer is not considering entering negotiations with the private equity firm. It is currently still searching for a successor to chief executive Alan Giles, in order to help fight off the approach by an insistent Permira.

HMV is currently revising its entertainment offering, with a number of stores across the country running an on-going trial of pre-owned video games. Other stores are also in the process of reconsidering music and DVD price points, although a spokesperson confirmed that games are not included in the latest round of alternative price propositions.

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Matt Martin avatar
Matt Martin: Matt Martin joined GamesIndustry in 2006 and was made editor of the site in 2008. With over ten years experience in journalism, he has written for multiple trade, consumer, contract and business-to-business publications in the games, retail and technology sectors.