Leonard Riggio, the chairman of Barnes & Noble Inc. and the company’s biggest shareholder, is considering buying out the companies 689 retail stores,
the
Wall Street Journal
reported.
The move would involve splitting the stores from the company’s college bookstores and its Nook e-reader and tablet business. The retail stores would be taken private, according to the
Journal
report.
Riggio, 71, controls about 30% of Barnes & Noble’s common stock, the article said. In 2009, Barnes & Noble bought his college bookstores for $596 million. (Source:
Wall Street Journal,
Feb. 25, 2013.)
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