Wall Street Journal. The investors, who own 3.4% of the company, said they "strongly urge the special committee to re-evaluate its approach and afford all interested parties the ability to communicate and coordinate their efforts for the purpose of submitting a superior bid," according to the report.
The deal to which the board agreed last week valued the company at around $683 million (see "Barnes & Noble Sold to Elliott").
Meanwhile Readerlink, which distributes books to mass outlets such as mass merchants, grocery stores, drugstores, warehouse clubs, and others, was working on a potentially higher offer, according to an report by the Journal earlier this week.
The breakup fee if Barnes & Noble accepts an offer higher than the Elliott Advisors offer went up to $17.5 million Thursday night. It had been at $4 million up to that point.
People in the book business had been generally supportive of the Elliott offer, as it would bring Waterstones’ CEO, who has been successful at turning Waterstones around, in to run Barnes & Noble as well.
As Readerlink Attempts Counterbid
Posted by Milton Griepp on June 14, 2019 @ 4:23 am CT
Out-of-Print and Rare Source Materials
August 20, 2019
DC will release Watchmen Companion, collecting long-out-of-print and rarely seen material based on the comic book series, this December.
Free Cards with New Switch Game; Mobile-Based Speed Dueling Easy-to-Learn Option
August 21, 2019
Konami is offering three free TCG cards with the new Switch game, and is using the mobile-based Speed Duel game to as an easy-to-learn TCG option.