Barnes & Noble Inc. had been buyout bait for so long it should not have been a surprise when the company announced on Friday that Elliott Management Corp. had agreed to buy the big-box book giant for $683 million, including debt. The bookseller had said in October that it was exploring strategic alternatives. Even before that, smart observers such as my colleague Tara Lachapelle had noted it would be a tempting takeout target.
Still, when the moment came, it seemed to be, if not exactly a shock, then certainly an important turning point. Without a doubt it was a humbling moment . . .more