Barnes & Noble Gets Takeover Proposal From Firm Seeking Breakup
Barnes & Noble (BKS) Inc., the struggling bookseller, received a proposal from G Asset Management LLC to acquire 51 percent of the company at $22 a share, valuing the total business at $1.32 billion.
G Asset also proposed buying 51 percent of Barnes & Noble's Nook e-book division at $5 a share as an alternative deal, according to a statement yesterday from the investment firm. It said it was confident that separating the business would unlock "substantial" shareholder value.
- Companies:
- Apple
- Barnes & Noble Inc.
- Places:
- New York
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