Pension Fund Row Hits Wh Smith Bid ; Permira Could Back Out Over Pounds 215m Demand

Mail on Sunday › June 14, 2004

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Summary

A Pounds 940 million takeover bid for WH Smith is on the brink of collapse this weekend because of a fierce row over a huge pension hole at the struggling High Street retailer.

Venture capital group Permira has been told that it must plug the gap immediately if it wants to take control of WH Smith, which includes newspaper and magazine wholesaling and book publisher Hodder Headline as well as the familiar High Street outlets.

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Extract

Pension Fund Row Hits Wh Smith Bid ; Permira Could Back Out Over Pounds 215m Demand

WH Smith agreed to allow the bidders to go through the company's books to...

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