Barnes & Noble has issued a formal tender offer to shareholders as part of the proposed acquisition by Elliott Advisors for $6.50 a share. The offer, which requires approval by a majority of shareholders, expires on August 6. Within the documents, it is estimated that the deal will cost approximately $745 million in toto, to purchase the shares outstanding (roughly $490 million), take over and refinance the debt, and pay other fees and expenses. A substantial part of the document explains in detail why the board has recommended shareholders accept the offer. That includes a long and complicated chronicling of […]
