Barnes & Noble has been exploring options for a buyout since at least last October, with multiple parties showing interest including founder-chairman Leonard Riggio. It became the nation's second-largest bookseller and began selling books online in partnership with IBM and Sears. Daunt is expected to apply numerous same strategies that he used to help turn around Waterstone's around in recent years to Barnes & Noble, which now operates 627 stores nationwide.
Both Elliott and Barnes & Noble did not immediately respond to Reuters requests for comment. Since then, Barnes & Noble has grown its website, launched an ereader called Nook to compete with rival stores and online retailers.
James Daunt, CEO of Waterstones, will take over as CEO of Barnes & Noble too, although Waterstones and Barnes & Noble will remain separate entities. The company's annual sales have fallen for the past three years.
It is not known if Barnes & Noble will adopt the Waterstones strategy of operating more like a large conglomerate of independent bookstores, but the combined company increases its footprint.
"In chain bookselling, you need to try and get the best store for each location", Daunt told The Associated Press. The deal is valued at around $683 million, including the assumption of debt, according to the Wall Street Journal.
India have got some vulnerabilities: Allan Border
The 25-year-old lived up to all expectations when he made his World Cup debut against South Africa in Southampton on Wednesday. India, on the other hand, got the better of Australia in the 2011 edition at the quarter-final level.
JEDI: FALLEN ORDER Gameplay Reveals Lightsabers, Spiders, And Saw Gerrera
Explore and overcome a wide range of challenges focused on combat, exploration and puzzle-solving. It won't shy away from bestial combat either, as the demo shows a few fights with insectoid foes.
Maldives to confer country's highest honour on PM Narendra Modi
While Russia conferred PM with it "Order of St Andrew the Apostle", UAE conferred with him with the Zayed Medal. However, the progress on the Action Plan slowed down when Maldives was under President Abdulla Yameen's rule.
After that remains a long road to recovery, if that's even possible.
It now runs 627 retail store as of January this year.
"Our investment in Barnes & Noble, following our investment a year ago in Waterstones, demonstrates our conviction that readers continue to value the experience of a great bookstore", Paul Best, Elliott's head of European Private Equity said.
However, retailers like Target and Walmart have done so successfully, in part by using their brick and mortar stores as launching points for fast delivery for things bought online.