Barnes & Noble snapped up by Waterstones owner

Barnes and Noble fascia

Barnes & Noble has been acquired by Waterstones’ parent company Elliott Advisors in an all-cash deal.

It has bought the US book retailer in a deal worth $683m (£538m).

Waterstones chief executive James Daunt will assume the role of Barnes & Noble chief executive following the completion of the deal and will be based in New York.

Barnes & Noble is the largest bookseller in the USA and serves 627 communities across all 50 states.

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