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W H Smith 'moves' for Borders

10.08.07

W H Smith, the high street retail chain, is among those vying to buy the British arm of Borders, the troubled bookseller, reports the Telegraph. "A shortlist of bidders compiled by Merrill Lynch is understood to include W H Smith alongside a number of private equity firms. Merrill Lynch hopes a sale of the chain - which also owns Books etc - can be agreed by the end of the month, according to sources close to the talks."

The Bookseller reported yesterday that James Heneage founder of Ottakar's is understood to have ruled himself out of the bidding.

The Telegraph reckons that W H Smith would face serious competition issues in the event of a successful bid, with objections from the vocal books industry and smaller rivals inevitable. It also reports that news of W H Smith's interest will surprise the City - private equity bidders had been widely tipped as the most likely suitors for Borders.

Merrill Lynch, Borders and WH Smith refused to comment to the Telegraph.

Telegraph

Retail W H Smith waterstone's Borders

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