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HC makes formal bid for TFP

18.03.08 Tom Tivnan

HarperCollins has made a formal bid for some of The Friday Project's (TFP) publishing assets, according to Panos Eliades, partner at insolvency firm Panos Eliades, Franklin and Company.

TFP co-founder Clare Christian and commercial director Scott Pack have fourteen days to respond to the offer, but Eliades expects the decision to come much sooner. He added: "I should think we would make a decision on the offer by the middle of next week at the latest. We don't want to keep everything in limbo for much longer, we need to get cracking on this."

Both Christian and Pack have not commented directly on the specifics of the sale, but Christian, writing on her popular Girl Friday blog on 17th March, said she had hoped to make an announcement on the sale by the end of last week. She added: "I know the press speculation is making everyone edgy and I am really sorry. I am trying to hurry things up and hopefully will be able to announce something this week."

HarperCollins was unable to comment on the bid at press time.

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