Jan 30, 2018

Activist hedge fund Elliott in talks to buy Waterstones

Elliott Advisors, the UK arm of Paul Singer's activist hedge fund, is in talks to buy a majority stake in bookshop chain Waterstones. The fund has been granted a short period of exclusivity to negotiate the terms of a deal, a person familiar with the talks said. Waterstones last changed hands in 2011, when Russian oligarch Alexander Mamut bought it from HMV Group. While the terms of any possible deal are not yet known, Mr Mamut hired investment bankers at Rothschild last year to explore a sale for £250m, the Sunday Times reported. While Elliott is best known as an activist investor, it is a multi-strategy fund that invests in a range of credit, commodity, property and arbitrage strategies.

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