Hodder & Stoughton, a division of the Hachette, has offered approximately £12.6 million (about US$21 million) to purchase Quercus Publishing, the U.K. independent publisher that launched in the USA in Fall 2013.
Tim Hely Hutchinson, c.e.o. of Hachette UK and chairman of Hodder, said: "My colleagues at Hodder and I greatly admire what has been achieved at Quercus in a relatively short time. If our offer is successful, Quercus will become a distinct division within our company and will benefit from Hachette UK Group's funding resources and sales reach to secure a very bright future for the Quercus Group."
Tim Hely Hutchinson, c.e.o. of Hachette UK and chairman of Hodder, said: "My colleagues at Hodder and I greatly admire what has been achieved at Quercus in a relatively short time. If our offer is successful, Quercus will become a distinct division within our company and will benefit from Hachette UK Group's funding resources and sales reach to secure a very bright future for the Quercus Group."