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Indigo Books & Music records FY24 Q3 revenue of C$370.6M, compared to C$422.7M in same period last year; company experienced many disruptions in 2023, including ransomware attack, premature launch of a new digital platform

Shares of Indigo Books & Music up more than 50% after pair of companies owned by Gerald Schwartz make privatization proposal; Trilogy Retail Holdings, Trilogy Investments offered to pay C$2.25 per share in cash for stake in company they don't already own

Indigo Books & Music receives a non-binding proposal from Trilogy Retail Holdings, Trilogy Investments to acquire all issued, outstanding common shares of company it doesn't currently own for C$2.25 in cash per share; Trilogy currently owns 60.63%

Indigo Books & Music has laid off an unspecified number of staff as part of its efforts to streamline operations; retailer has seen several quarters of losses and many executive, board changes over past year

Indigo Books & Music's Chapters shop in Scarborough, Ont., is set to close later this month after union says retailer has made things difficult for workers; workers at store have picketed on multiple weekends after hearing about closure

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