Quarto co-founder and former chairman and ceo Laurence Orbach restored himself to the publisher’s board and the position of executive chairman in a surprise vote at the company’s annual meeting Thursday. Orbach still controls approximately 20 percent of the company’s shares, and he was supported by 27 percent owner Chuk Kin Lau of Lion Rock Group…
International News
Springer Nature IPO to Price At Low End; Holtzbrinck Supports It with Additional Share Order
The Springer Nature IPO will officially price later in the day Tuesday, but the bookrunners were indicating only modest demand for shares and are expected to price the stock at 10.50 euros, the bottom end of their range, before shares start trading in Frankfurt on Wednesday. At that price, the offering should raise 1.2 billion…
Controlling Stake In Waterstones Sold to Elliott Advisors
As has been expected since they initiated an exclusive negotiation period at the end of January, hedge fund Elliott Advisors has reached a deal to acquire and finance UK bookselling chain Waterstones, for undisclosed terms. They are financing the transaction — a good portion of which likely includes either the assumption, or repayment, of Waterstones’…
Springer Nature Formalizes Frankfurt IPO
In line with lengthy preparations, academic publisher Springer Nature formally announced plans to list shares on the Frankfurt Stock Exchange, looking to raise approximately €1.2 billion in proceeds. Timing was not announced, but in Germany shares usually start trading four weeks after an IPO is announced. Holtzbrinck, currently a 53 percent owner, will retain all of…
People, Etc.
Janine Barlow and Samantha Zukergood have both been promoted to assistant editor at Thomas Dunne Books. At Dutton, Jamie Knapp has been promoted to associate director of publicity, and Becky Odell moves up to associate publicist. James Hegberg has been promoted to senior online marketing manager at Sourcebooks. At Random House Children’s books, on the licensed & proprietary brands marketing team:…
People, Etc.
Seth Russo, vice president and director of international sales at Simon & Schuster will retire on April 20, after 35 years in international sales. Executive director, global digital and international sales Colin Shields will take on the direct, day-to-day responsibility for the international sales channel. Newly reporting to him will be Rema Badwan and Danielle…