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Liberty Media bids $1 billion for Barnes & Noble

Written by Andre Yoskowitz (Google+) @ 22 May 2011 15:42

Liberty Media bids $1 billion for Barnes & Noble Earlier this week, Liberty Media offered $17 per share, or $1 billion for giant book retailer Barnes & Noble.
Shares of the company, however, jumped to $18.33 by the close on Friday, as Wall Streets expects a competing bid.

Furthermore, many believe the bid undervalues the company, which has been struggling for years now.

Liberty is bidding for the company in an effort to continue the strong sales and growth of the Nook e-reader and Nook Color e-reader/tablet.

Finally, the offer is conditional on founder and current Chairman Leonard Riggio keeping a stake in his company and staying involved in running the company.

Barnes & Noble has around 30 percent of the e-book market, has 720 superstores, and has been up for sale since August.

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