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Wells Fargo Leads $825MM Financing for Elliott Advisors’ Acquisition of Barnes & Noble

August 09, 2019, 09:00 AM
Filed Under: Retail

Wells Fargo Capital Finance, part of Wells Fargo & Company, announced that it acted as administrative agent, lead arranger and book runner for an $825 million asset-based credit facility in connection with the acquisition of Barnes & Noble, Inc. by Elliott Advisors (UK) Limited.

“For us to be able to collaborate with Elliott to complete such important financing and help the firm continue to grow its portfolio of companies is rewarding,” said Lynn Whitmore, managing director of Retail Finance, Wells Fargo Capital Finance. “We are pleased to support Barnes & Noble as they embark on a new phase of investment and growth under Elliott’s sponsorship.”

Elliott’s acquisition of Barnes & Noble, the largest retail bookseller in the U.S., follows its June 2018 acquisition of Waterstones, the largest retail bookseller in the U.K.

Elliott Advisors (UK) Limited is an affiliate of Elliott Management Corp., which manages two multi-strategy funds that, combined, have approximately $38 billion in assets under management. Its flagship fund, Elliott Associates, L.P., was founded in 1977, making it one of the oldest funds of its kind under continuous management. The Elliott funds’ investors include pension plans, sovereign wealth funds, endowments, foundations, funds-of-funds and employees of the firm.

Barnes & Noble is a leading retailer of content, digital media and educational products. The company operates 627 Barnes & Noble bookstores in 50 states, and one of the Web’s premier e-commerce sites, ( General information on Barnes & Noble can be obtained by visiting the company's corporate website.

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