Barnes & Noble Acquired by Elliott Management for $683 Million
Elliot Management has reportedly dropped over a half a billion dollars to acquire major book retailer Barnes & Noble. Elliot Management is a hedge fund company that was founded back in 1977.
The deal is not set to be official until after the summer of 2019. Barnes & Noble have suffered from declining sales for a few years now. The company has not been able to successfully compete with Amazon and was headed toward bankruptcy.
Elliot Management mission is to return Barnes & Noble back to a profitable company. I am of the belief it will take some unique efforts to get people to go back to shopping in the bookstore these days.