Waterstones has reportedly entered talks to buy family-owned academic bookseller Blackwell’s.
According to Sky News, Waterstones, which is owned by US-based hedge fund Elliott Advisors, has secured a period of exclusivity within which to negotiate a deal.
If successfully completed, the acquisition would unite it under common ownership with a number of other prominent bookselling brands, such as Barnes & Noble in the US and Daunt Books.
Sky said the likely terms of a transaction were unclear, although one source said it was being pursued on a solvent basis.
Waterstones and Barnes & Noble are both run by James Daunt, who was recruited to run the British book chain in 2011 when it was acquired by Russian businessman Alexander Mamut. It was sold to Elliott seven years later.
Sky first reported earlier this week that Blackwell’s had put itself up for sale after scrapping plans to hand over ownership of the business to its employees.
It said at the time that Blackwell’s, which has been owned by its founding family since its first store opened in Oxford in 1879, had appointed corporate financiers to oversee a sale process.
Sky said Blackwell’s confirmed it had entered a period of exclusivity with a third party, but declined to name its suitor.
