The boss of Waterstones has backed the bookseller to keep expanding on the high street after being snapped up by US hedge fund Elliott Advisors.
Chief executive James Daunt branded the sale process a “distraction”, but said the deal was a “very happy outcome” and Waterstones would push ahead with its growth plans.
The swoop for an undisclosed sum comes after Elliott entered into exclusive talks in January following a search for new owners led by investment bank Rothschild.
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