Barnes & Noble Nearing Deal to Be Acquired by Elliott Management

Barnes & Noble Inc. is nearing a deal to be bought by hedge fund Elliott Management Corp., according to people familiar with the matter, as the nation’s largest bookstore chain seeks a new owner following years of decline.

Elliott is the lead bidder in an auction that could come to a head soon, the people said. It is expected to pay $6.50 a share, one of the people said. The stock closed at $5.96, up 30% on Thursday after The Wall Street Journal reported that a deal with Elliott could be imminent. Barnes & Noble…

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