Jun 07 2019
Elliott Management, the U.S. private equity company whose U.K. arm, Elliott Advisors, bought Waterstones last year, is buying Barnes & Noble, B&N announced this morning. Elliott is paying $6.50 a share--well above recent levels--in an all-cash transaction that places the company's value at $683 million.
The companies will be operated separately, but in a very positive move for the long-struggling chain, Waterstones CEO James Daunt, who led the turnaround of Waterstones, will be made CEO of B&N and be based in New York City. The companies said that under this arrangement, B&N and Waterstones will "benefit from the sharing of best practice between the companies.
The Funeral Cryer by Wenyan Lu
Debut novelist Wenyan Lu brings us this witty yet profound story about one woman's midlife reawakening in contemporary rural China.
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