New chapter for Barnes & Noble; Popeyes goes for gold
Fox Business Briefs: Barnes & Noble stock soars after talks of possible sale; Popeyes Louisiana Kitchen celebrates its 3,000th restaurant by serving up boneless chicken wings dipped in champagne and coated in 24-karat gold batter.
Elliott Management Corp., is reportedly the top contender to purchase Barnes & Noble and the two sides appeared to be approaching an agreement.
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The Wall Street Journal reported the news Thursday, citing sources familiar with the matter, but said negotiations could still fizzle out. Details into a possible agreement with the hedge fund weren’t clear, they added.
The development comes months after the book retailer revealed in early October that several parties had shown interest in buying them. Among the offers was one from Leonard Riggio, Barnes & Noble’s founder and chairman.
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Another possible contender to purchase the company is Readerlink LLC, Bloomberg reported, also citing sources. However, one source reportedly indicated that the more enticing bid appeared to be from Elliott.
The aforementioned potential Readerlink agreement would include Riggio, the outlet said.
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| Ticker | Security | Last | Change | %Chg |
|---|---|---|---|---|
| BKS | BARNES & NOBLE | 5.96 | +1.37 | +29.85% |
Barnes & Noble has been struggling in recent years due to competition from Amazon and changing consumer preferences.
A representative for Barnes & Noble did not immediately return Fox Business’ request for comment.
The Associated Press contributed to this report.
