Barnes & Noble is being acquired by a hedge fund for $476 million and will be taken private.
The national chain that many blamed for the demise of independent bookstores has been ravaged by Amazon.com Inc. and other online sellers, but it remains a key outlet for publishers.
The man who runs that U.K. chain — James Daunt — will become chief executive of Barnes & Noble, and he said that is what he has in mind. But Amazon, which began as an online marketplace for books, was relentless, and its Kindle e-reader is dominant today. Amazon has cut into sales of Barnes & Noble and independent book sellers alike.Teicher heads the American Booksellers Assn., the group representing independent book shops, and a bitter rival of Barnes & Noble.
And he sees advantages for Barnes & Noble in the fight with Amazon, which doesn’t have many physical bookstores where it can offer experiences. The sale, valued at about $683 million including debt, is targeted to close in the third quarter if approved by regulators and shareholders.
Österreich Neuesten Nachrichten, Österreich Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Once a book selling giant, Barnes & Noble sold to hedge fundBarnes & Noble, a one-time giant in the bookselling world, is sold to a hedge fund for $476 million
Weiterlesen »
Barnes & Noble, with sales falling, is sold to hedge fundBarnes & Noble is being acquired by a hedge fund for $476 million and will be taken private. The national chain that many blamed for the demise of independent bookstores has been ravaged by...
Weiterlesen »
Barnes & Noble to Be Acquired by Elliott Management for $6.50 a ShareBarnes & Noble agreed to be acquired by Elliott Management for $6.50 a share in an all-cash deal valued at about $683 million, including the assumption of debt.
Weiterlesen »
Elliott Management reportedly in lead to acquire bookseller Barnes & NobleThe retailer said last year it was exploring a sale after having received 'expressions of interest' from 'multiple parties,' including its Chairman Leonard Riggio, who founded the company in 1965.
Weiterlesen »
Barnes & Noble Nearing Deal to Be Acquired by Elliott ManagementBarnes & Noble is nearing a deal to be bought by hedge fund Elliott Management, a move that would end the independence of the nation’s largest bookstore chain.
Weiterlesen »