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Elliott Investment Management LP is preparing to list booksellers Barnes & Noble and Waterstones in London or New York next year, the Financial Times reported on Thursday. The New York-based fund manager has spoken to potential advisers about an initial public offering, according to FT sources, who added that Elliott could appoint investment banks early in 2026. One source told the FT that London was likely to be favoured over New York ‘on current thinking’ due to the steady income for the businesses which could be attractive to yield seeking UK funds. No final decisions have been taken and the plans could shift, FT sources added. It noted that the firm’s financial year runs until April, which makes an IPO unlikely until after the summer at the earliest. Elliott declined to comment to the FT. The group has 775 shops in the US and a further 316 in the UK, and generated around $400 million in profit from $3 billion in sales last year. Elliott first acquired the UK’s largest bookseller Waterstones in 2018, without disclosing terms. It then bought Barnes & Noble in 2019 for $683 million. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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