Posted on 06/07/2019 at 09:26 AM by Sadye Scott-Hainchek

Barnes & Noble should soon have a new owner.

CNBC reports that activist firm Elliott Management has officially announced its plans to buy B&N for about $683 million, including debt.

It won’t be the firm’s first bookstore chain acquisition — last year, Elliott purchased Britain’s biggest bookseller, Waterstones.

The Digital Reader speculates that Elliott, assuming the deal goes through, will sell off the Nook division, probably to Kobo.

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