M&A wrap: Barnes & Noble, Elliott, Waterstones, The Prom, Advent

Too many founders build their buyer lists around familiar names. Expanding the search beyond industry peers can lead to stronger valuations, better terms, and more competitive sale processes.

Clearing private equity’s oldest funds will require buyers willing to underwrite mixed portfolios, troubled assets and uncertain exit paths.

PayPal, headquartered in California, is one of the world's largest digital payments platforms.