Indigo to go private with share selloff

Books and lifestyle retailer Indigo Books & Music Inc. has agreed to a deal to sell the majority of its shares to Trilogy Investments L.P. and Trilogy Retail Holdings Inc. TILP will acquire all outstanding common shares of Indigo for $2.50 in cash per share, which represents an increase from the original offer of $2.25. TILP already owns about 60.6 percent of Indigo.

The deal will take the company private and is subject to approval by Indigo’s minority shareholders in May and other closing conditions. The Trilogy companies are controlled by Gerald Schwartz, the husband of Indigo CEO Heather Reisman and CEO of Onex Corp.