Confusion as Tim's bid for Waterstone's collapses

<p>Tim Waterstone's bid for his former bookselling business Waterstone's appears to have collapsed in confusion this morning, after his financial backers withdrew their support for the &#163;280m bid.</p><p>A spokesman for Tim Waterstone confirmed that the &#163;280m offer for the bookseller had been dropped, but there were conflicting reports about how the bid had stumbled.</p><p>A Stock Exchange statement put out by Waterstone's parent HMV this morning reported that Lazard Private Equity Partners had withdrawn its support for the buyout attempt led by Tim Waterstone and Anthony Forbes Watson.</p><p>However Reuters reported that the plans had been withdrawn because the conditions for talks set by HMV were too onerous.</p><p>Forbes Watson told Bloomberg: "I've got nothing to say at the moment. I'm going to meet with the team today I'm sure we'll respond later"</p>