Finance
Elliott gears up for Barnes & Noble and Waterstones listing, FT reports
Published by Global Banking and Finance Review
Posted on December 18, 2025
2 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 18, 2025
2 min readLast updated: January 20, 2026
Elliott Management is preparing an IPO for Barnes & Noble and Waterstones, potentially listing in London or New York in 2026, appealing to UK investors.
(Corrects headline and paragraph 1 to say listing, not listings)
Dec 18 (Reuters) - Hedge fund Elliott Management is preparing for the initial public offering of bookstores Barnes & Noble and Waterstones, with the listing expected next year in London or New York, the Financial Times reported on Thursday, citing people familiar with the matter.
Elliott could appoint investment banks in early 2026, the report said, adding that London is likely to be favored over New York as a venue for the listing as the businesses generate steady income that could appeal to UK investors looking for reliable returns.
No final decisions have been made and the plans could still change, the report said.
Reuters could not immediately verify the report. Elliott Management, Barnes & Noble and Waterstones did not immediately respond to requests for comment.
Elliott bought British bookshop chain Waterstones in 2018, and a year later acquired Barnes & Noble in an all-cash deal valued at about $683 million.
Barnes & Noble operates about 600 bookstores across the U.S., while Waterstones has more than 290 locations across the UK, Ireland and Europe, according to the companies' websites.
(Reporting by Mihika Sharma in Bengaluru; Editing by Sonia Cheema)
An initial public offering (IPO) is the process through which a private company offers its shares to the public for the first time, allowing it to raise capital from public investors.
A hedge fund is an investment fund that pools capital from accredited investors and employs various strategies to earn active returns for its investors, often using leverage and derivatives.
The London Stock Exchange (LSE) is one of the largest stock exchanges in the world, where shares of publicly traded companies are bought and sold.
Investment banking is a division of banking that helps companies raise capital by underwriting and issuing securities, providing advisory services for mergers and acquisitions.
A public offering is the sale of shares or bonds to the general public, typically through a stock exchange, allowing companies to raise funds from a wide range of investors.
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