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Swann considers Paperchase bid
W H Smith's chief executive Kate Swann is considering a £50m bid for the stationery chain Paperchase, according to the Daily Telegraph.
Borders, the US owner of Paperchase, has put the group up for sale following a strategic review, while W H Smith, which is thought to be a potential buyer alongside HMV, says the newspaper, has been on the acquisition trail under Swann, snapping up hospital and airport stores, as well as signing a franchise deal with RoadChef.
A deal with Paperchase, which has more than 100 stores across the UK, including concessions at House of Fraser and Selfridges stores, would see it boosting its already strong position on the gloomy high street.
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