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New chapter for Barnes & Noble; Popeyes wants the gold
Fox Business Briefs: Barnes & Noble stock is flying after discussions on a possible sale; Popeyes Louisiana Kitchen celebrates its 3000th restaurant by serving boneless, champagne-dipped chicken wings wrapped in 24-carat golden batter.
Elliott Management Corp. would be the main candidate for the purchase of Barnes & Noble and both parties seemed to be moving towards an agreement.
The Wall Street Journal reported on the new Thursday, citing sources close to the case, but said the talks could still run out of steam. The details of a possible agreement with the hedge fund were unclear, they added.
This development comes several months after the bookseller announced in early October that several parties had expressed the desire to buy them. Among the offers was a proposal by Leonard Riggio, founder and president of Barnes & Noble.
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Another possible candidate for the company's purchase is Readerlink LLC, Bloomberg said, citing sources as well. However, a source reportedly said that the most attractive offer seemed to emanate from Elliott.
The aforementioned potential agreement between Readerlink and Riggio was mentioned in particular.
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| Teleprinter | security | Latest | Change | % Chg |
|---|---|---|---|---|
| BKS | BARNES & NOBLE | 5.96 | +1.37 | + 29.85% |
Barnes & Noble has been struggling in recent years due to Amazon's competition and changing consumer preferences.
A Barnes & Noble representative did not immediately return Fox Business's request for comment.
Associated Press contributed to this report.
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