Elliott Advisors, the UK branch of Paul Singer’s hedge fund Elliott Management, has been given “a short period of exclusivity within which to conclude negotiations” to purchase UK bookselling chain Waterstones, Sky News reported, citing a single source. The report has a measure of credibility since, as we have been writing all along, “one insider suggested it was likely to be much lower than the £250 million that a newspaper report said Mr. Mamut was seeking last autumn.” Reportedly, there are more private equity firms lined up negotiate if Elliott Management does not conclude a deal.
