Barnes and Noble taken private, sold to hedge fund for $638M

Barnes & Noble Set To Be Sold To Elliott Management For About $683 Million

Just about eight months after Barnes & Noble revealed it was exploring a possible sale, the embattled bookseller has settled on a buyer. The mega-chain, which boasts 627 locations across the U.S., announced Friday that the Elliott Management Corp. has agreed to buy Barnes & Noble for about $683 million — a price tag that includes the bookseller’s debt, which Elliott will take on as part of the deal. “We are pleased to have reached this agreement with Elliott, the owner of Waterstones, a bookseller I have admired over the years,” Leonard Riggio, the founder of Barnes & Noble’s modern iteration and still its chairman, said in a statement released Friday.

Source: www.npr.org