THE WHAT? The owner of Barnes & Noble and Waterstones, Elliott Advisors is said to have submitted a bid for Natura &Co’s The Body Shop.

THE DETAILS Sky News reports that the Brazilian beauty firm is hoping to reach a provisional agreement to sell the ethical cosmetics chain by the end of October.

THE WHY? Both the investment firm and Natura &Co have declined to comment to the press on the rumors. Natura &Co announced a search for ‘strategic alternatives’ for The Body Shop last month; but has yet to confirm any sale. Elliott has become increasingly active as a private equity investor and has been linked to a number of high-profile deals of late, including the sale of Cineworld, suggesting it’s keen to branch out from books.