Hachette’s 3-Way Deal to Acquire Perseus Fails
The Hachette Book Group's deal to acquire the independent publisher Perseus has collapsed after months of negotiations, representatives from each company said on Thursday.
The three-way agreement among Hachette, Perseus and the book distributor Ingram had been in the works since February and was announced in late June. Under the proposed arrangement, Hachette would have acquired Perseus's 10 publishing imprints, and Ingram would have taken on Perseus's distribution business, which distributes books for more than 400 independent publishers. The sale was scheduled to be completed in late July.