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Elliott Buys Majority Stake In Waterstones

Hedge fund sponsor Elliott Advisors (UK) Ltd has bought a majority stake in book shop Waterstones, according to press reports. James Daunt will continue as CEO of Waterstones with his management team following completion of the deal. Daunt was reported as saying that “this is a very happy outcome for Waterstones. Our booksellers can be immensely proud to have proved through good, old-fashioned bookselling, the enduring appeal and worth of real bookshops.” Elliott Advisors (UK) Limited is an affiliate of Elliott Management Corporation and has over $34bn in assets under management and is considered one of the leading activist investors. It recently campaigned...