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Barnes & Noble (BKS) seeking strategic alternatives

  • October 4, 2018

POTENTIAL DEAL DETAILS

StockBarnes & Noble, Inc.SymbolBKS
Date Announced10/03/2018Source Press release
TypeCompany Seeking Strategic Alternatives
Date of Confirmation: 06/07/2019Price at Confirmation: $5.96
Potential Profit: -8.45%Annualized Profit: -12.48%

Barnes & Noble, Inc. (BKS) today announced that its Board of Directors has decided to enter into a formal review process to evaluate strategic alternatives for the Company. This decision follows expressions of interest from multiple parties in making an offer to acquire the Company, including from the Company’s Chairman, Leonard Riggio.

Update(s):

June 06, 2019: Barnes & Noble Inc. (BKS) is nearing a deal to be bought by hedge fund Elliott Management Corp., according to people familiar with the matter, as the nation’s largest bookstore chain seeks a new owner after years of decline.

June 07, 2019: Barnes & Noble, Inc. (BKS) announces today that it has entered into a definitive agreement to be acquired by funds advised by Elliott Advisors (UK) Limited for $6.50 per share in an all-cash transaction valued at approximately $683 million, including the assumption of debt.

June 10, 2019: Book distributor Readerlink LLC is working toward making a bid for Barnes & Noble Inc. (BKS) that would top the price hedge fund Elliott Management Corp. agreed to pay for the book retailer, a person familiar with the situation said.

Disclaimer: Our intent with this section of the website is to present potential deals that appear to be in the pipeline. These potential deals are ones where i) the company has indicated that it is "seeking strategic alternatives", ii) there has been an unsolicited bid for a company as mentioned in a press release by the company or iii) news about the deal has been published by a leading news organization like The Wall Street Journal, The New York Times, Bloomberg, Financial Times, The Washington Post, Reuters and The Associated Press. As best as possible we will try to avoid baseless rumors. There is a high probability that many of these potential deals may not materialize and if they do, the terms of the deal may be different from what was initially reported. Please do your own due diligence before buying or selling any securities mentioned on this website. We do not warrant the completeness or accuracy of the content or data provided.