Chapters, Indigo agree to put 23 stores on block

Article Abstract:

Indigo Books and Music Inc. and Chapters Inc., which are planning to merge, will sell their 23 retail stores to comply with regulatory demands by the Competition Bureau. The merger, which will create Canada's largest bookstore chain, also includes a 5-year code of conduct imposed by regulatory authorities.

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Chapters rebuffs Indigo's hostile bid

Article Abstract:

Chapters Inc. has rejected a $63.5-million hostile takeover offer launched yesterday by Gerald Schwartz and Heather Reisman, getting ready for what appears to be a long fight over who controls Canada's book retailing industry.

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Chapters deal would spur savings

Article Abstract:

Chapters Inc.'s planned acquisition by Future Shop Ltd. would bring approximately C$25 million in yearly savings and profit increases at both firms. The merger would form C$58.4 million in combined profits next year.

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