April 26, 2018 / 7:27 AM / a month ago

BRIEF-UK bookseller Waterstones To Be Acquired By Elliott Advisors

April 26 (Reuters) -

* WATERSTONES - ENTERED INTO A BINDING AGREEMENT TO BE ACQUIRED AND FINANCED BY FUNDS MANAGED BY ELLIOTT ADVISORS (UK) LTD

* WATERSTONES - LYNWOOD INVESTMENTS, CONTROLLING SHAREHOLDER OF WATERSTONES SINCE 2011, WILL RETAIN A MINORITY STAKE

* WATERSTONES - ELLIOTT IS PROVIDING ALL FINANCING FOR TRANSACTION, INCLUDING CONSIDERATION AND ONGOING OPERATIONAL FINANCE.

* WATERSTONES - JAMES DAUNT, CEO OF WATERSTONES SINCE 2011, WILL REMAIN AS CEO UNDER NEW OWNERSHIP, AS WILL HIS KEY LEADERSHIP TEAM.

* WATERSTONES - TRANSACTION IS EXPECTED TO CLOSE IN EARLY MAY, TERMS ARE NOT DISCLOSED Source text for Eikon:

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