Funds advised by Elliott Management Corp. unit Elliott Advisors (UK) Ltd. have successfully completed the acquisition of Barnes & Noble Inc., according to an Aug. 7 release.
In June, Elliott Advisors agreed to buy Barnes & Noble in a deal worth about $683 million, including the assumption of debt.
Approximately 82.15% of Barnes & Noble shares were tendered before the tender offer expired on Aug. 6.
The bookseller is now a privately held, indirect wholly owned subsidiary of Elliott Advisors, which also owns British book retailer Waterstones.
New York-based Barnes & Noble will continue to operate independently like Waterstones. James Daunt will serve as CEO of both companies.
Evercore acted as financial adviser to the special committee of Barnes & Noble while Baker Botts LLP was the legal adviser. Guggenheim Securities LLC was the financial adviser to the company's board of directors while Paul, Weiss, Rifkind, Wharton & Garrison LLP was the legal adviser.
Credit Suisse Securities LLC served as financial adviser to Elliott Advisors while Debevoise & Plimpton LLP acted as legal adviser.