The Hachette Book Group/Ingram purchase of the Perseus Books Group will not be completed by July 31 as originally hoped. The new target date to close is by the end of August. There was no specific reason given for the delay, other than that the three parties involved could not complete all the necessary tasks to finalize the sale by the end of July.
The nature of the agreement, with HBG buying the Perseus assets and selling the distribution business to Ingram, is said to have made for a more complex closing than expected, leading the companies to agree that since the deal would not be able to be closed by July 31 it was better to wait another 30 days.
