Permira backs bid for UK retailer WH Smith

British book and newspaper seller WH Smith has received a take-over approach backed by private equity firm Permira, the Sunday Telegraph said.
The paper said Simon Burke, the former executive chairman of toy store Hamleys and Keith Hammill, the chairman of menswear retailer Moss Bros, had made the take-over approach.
No one from WH Smith was immediately available to comment.
The Sunday Telegraph said a price had not yet been agreed although investment bankers said that investors would expect to receive at least 850 million pounds ($1.5 billion).
Separately the Sunday Times said Permira had held preliminary talks about a joint offer with French media company Lagardere.
WH Smith shares closed 3.2 percent higher at 260 pence on Friday, making it one of the day's biggest gainers in the FTSE Midcap 250 index and valuing the firm at about 651 million pounds.