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Barnes & Noble to Be Sold for $683 Million

Barnes & Noble
Photo Credit: BrokenSphere via Wikimedia Commons cc

Barnes & Noble has found a buyer after announcing eight months ago that it was exploring a sale. The company announced that Elliott Management Corp. has said it will buy the beleaguered retailer for $683 million. That price includes Barnes & Noble’s debt, which Elliott will take on.

The move marks Elliott’s second major splash in the world of books in the span of a year. Last June the New York-based hedge fund acquired Waterstones, which, with more than 280 bookshops, is the largest retail bookseller in the U.K.

Read more at NPR.