Readerlink LLC may submit an offer for Barnes & Noble (NYSE:BKS) higher than Elliott’s

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Updated: 11 June 2019
  • Readerlink LLC, a U.S. book distributor, is working to submit an offer for Barnes & Noble Inc. (NYSE:BKS) that could beat Elliott Management’s current offer.
  • This is according to a report published by the Wall Street Journal on Monday citing a reliable source.

Barnes & Noble currently has an offer from Elliot Management to purchase the bookseller’s shares for $6.50 with a substantial breakup fee if the deal is not completed.

The report triggered a rally by BKS stock to trade at $6.95 after-hours as the bookseller may be forced to accept the Readerlink’s bid before June 13 in order to minimise its breakup fee.