British private equity firm Permira is considering whether to submit a revised takeover offer for UK retailer WH Smith, weeks after talks broke down due to pension issues.
Permira, which made the statement through its Jamaica Trading bid vehicle, said no decision had yet been made on the value of a potential revised bid.
WH Smith pulled out of talks with Permira last month after the private equity firm said it was 'highly unlikely' to make an offer of 371p per share, as previously planned, because trustees of the retailer's pension plan were asking for a big cash injection up front.
An offer at the mid range of 325p to 340p would value the retailer at around £830m, or more than £100m less than the value of Permira's indicative offer, which it disclosed in April.
