In October 2018, the Barnes & Noble board of directors had named a committee to review bids to buy the company.
The CEO of Waterstones, James Daunt, will become the new CEO of Barnes & Noble following the acquisition, and will hold both titles concurrently.
U.S. bookstore chain Barnes & Noble announced on Friday that Elliott Advisors (UK) Limited (an affiliate of Elliot Management Corporation) has acquired the company for US$6.50 per share for an all-cash transaction valued at about US$683 million.
Elliot has also assumed any debt by Barnes & Noble.