Source: Barnes and Noble in Talks With New York Hedge Fund For Potential Buy Out, Bloomberg Reports

A source is claiming Elliott management, a New York hedge fund, and Readerlink LLC, a private book distributor based in Oak Brook, Illinois, are in talks with Barnes and Noble to buy out the struggling book retailer.

Financial Times reports Elliott could offer $6.50 per share, valuing the company at $476 million. Even in light of Amazons dominance over the industry, they managed almost $3.6 billion in sales last year, but they are still faced with mounting troubles, most notably due to their Nook e-book device not meeting up to expectations. Barnes & Noble has declined to comment. Read more @ bloomberg.com

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