Hachette has called off plans to acquire Perseus. The publisher announced the transaction back in June, reporting that the deal was expected to close after regulatory approval.
However, according to a report in The Wall Street Journal, the publisher couldn’t come to terms with all of the issues required for the deal to close. Here is more from the report:
The distribution assets made the proposed sale a more complex transaction than simply acquiring a publishing house. As part of the agreement, Hachette, a unit of Lagardere SCA, was to sell Perseus’s print and digital distribution business to Ingram Content Group, a unit of Ingram Industries Inc. That element ultimately doomed the deal, said people familiar with the situation.