premium: Elliott, which has a reputation for aggressive investment strategies, said the firms would benefit from sharing best practice under Daunt, according to The Guardian. The deal includes Barnes & Noble's debt and values it at 6.50 a share, a 43% premium to the average figure in the 10 days before rumours of a merger first appeared. The UK arm of the 35bn Elliott Management hedge fund plans to install James Daunt, the Waterstones boss, in New York as chief executive of both chains, with the two brands retained and operated separately. Unputdownable! The bookshops Amazon couldn't kill Read more Barnes & Noble is far larger than Waterstones, with more than twice as many stores and seven times the revenue. Waterstones has a total of 293 bookshops, including Foyles and Hatchards, and revenue of 402m last year. The US bookseller has 627 stores, with a presence in all 50 US states, and recorded sales of 3.7bn 2.9bn in the 2018 financial year.
(news.financializer.com). As
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