Page 21 - Paper Source News Today

Investment firm Elliott has entered an agreement to acquire gift and stationery retailer Paper Source's assets and business operations.

What can he say? The guy just loves some cute and colorful bunting.

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Paper Source has a deal to be bought by the owner of Barnes & Noble. Elliott Investment Management announced today it plans to acquire the Chicago-based stationery and gift retailer, which filed for bankruptcy protection in March. MORE The purchase by the New York-based investment fund allows Paper Source "to emerge from Chapter 11 with the support of a well-capitalized owner committed to the development and growth of the business," Elliott said in a statement today. Terms of the deal were not...

Barnes & Noble CEO James Daunt will oversee both companies. While the two businesses plan to operate independently, it hinted at possible partnerships in the future. "With Paper Sources management team, we will support and accelerate the brands strategic growth initiatives. Alongside this, the opportunities for Paper Source to work with Barnes & Noble are tremendously exciting for both businesses," Daunt said in a press release. Paper Source plans to operate 130 stores in the U.S. as well as it...

Dive Brief: Paper Source named Elliott Investment Management as the successful bidder in a process for the specialty retailer to sell itself in Chapter 11. The deal includes $40 million in cash, plus additional cash for incremental financing taken on under Paper Sources debtor-in-possession facility, as well as assumed first-lien debt totaling $51.6 million, according to court papers. Elliott also owns Barnes & Noble, which the investment firm acquired in 2019, and the U.K.-based book chain Wat...

Here is the current market situation from CNN Money North and South American markets finished mixed as of the most recent closing prices. The Bovespa gained 1.21%, while the IPC led the S&P 500 lower. They fell 1.14% and 0.06% respectively. What Is Moving the Markets Here are the headlines moving the markets. Saudi Arabia To Ship Full Volumes To Asian Oil Buyers Saudi Arabia will export full crude oil volumes to at least four Asian clients next month, Reuters has reported, citing unnamed sou...

Barnes & Noble Owner to Acquire Retailer Paper Source Posted on Owners of Barnes and Noble, an American bookseller, revealed it is acquiring Chicago-based Paper Source. Hedge fund Elliott Investment Management’s purchase will provide Paper Source with the necessary capital to surface from Chapter 11 bankruptcy. Barnes & Noble CEO James Daunt is prepared to lead the two companies. Despite both companies set to function separately, partnerships are possible. �...

Legal IN BRIEF: Elliott makes winning bid to buy Paper Source out of bankruptcy Maria Chutchian 2 minute read A plaque is displayed at the entrance of the U.S. District Bankruptcy Court for the Southern District of New York in Manhattan, New York, U.S., January 9, 2020. REUTERS/Brendan McDermid Greeting card and stationary retailer Paper Source has selected a $91.5 million bid from Elliott Investment Management LP to buy it out of bankruptcy. Paper Source, represented by Willkie Farr & Gallaghe...

Elliott Advisors (UK) Limited: Paper Source to Be Acquired by Elliott Elliott investment supports Paper Source for a bright future of its own and in teaming with Barnes Noble Elliott Investment Management L.P. ("Elliott") announces today that funds it advises have entered into a definitive agreement to acquire the assets and business operations of Paper Source Inc. The acquisition of Paper Source by Elliott allows the stationery and gift retailer to emerge from Chapter 11 with the support of a ...