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
Ongoing Monthly Chronicles Strange Events in Michigan Town
June 17, 2019
Dark Horse Comics has announced the next addition to its critically-acclaimed Berger Books imprint, Everything , an ongoing dark fantasy monthly comic written by Christopher Cantwell with art by I.N.J. Culbard.
Annuals for Ghost Spider, Moon Knight, & Wolverine Due in September
June 17, 2019
Marvel has revealed the cover art for the final three Acts of Evil annuals that will be released in September. The Acts of Evil annuals feature Marvel heroes facing off against enemies they have never encountered before.