Liberty Media bids for Barnes & Noble




Liberty Media Corp. has made an offer to acquire Barnes & Noble Inc. for $1.02 billion, according to news reports. Barnes & Noble put itself up for sale last summer,

the

Wall Street Journal

noted.

Barnes & Noble said the proposal is contingent on the participation of the retailer’s 70-year-old chairman, Leonard Riggio, “both in terms of his continuing equity ownership and his continuing role in management.”

It’s unlikely that a bid by Liberty would have been made without the approval of Mr. Riggio, who is also the retailer’s largest investor.

(Source:

Wall Street Journal,

May 20, 2011.)

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