Ottakar's board recommends second bid as bidders circle

<p>Ottakar's board has said that it is still in discussions with other parties, including HMV Group, despite recommending the increased cash offer of 400p per share made yesterday by the management buyout team led by James Heneage.</p><p>A statement issued by the independent directors of Ottakar's said that "no offer or proposal has been received from HMV nor any other party and, accordingly, the independent directors, who have been so advised by Bridgewell, consider the terms of the Increased offer to be fair and reasonable, and will be unanimously recommending that Ottakar's Shareholders...

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