Two Investors Vie for Majority Stake in Barnes and Noble

Posted on February 11, 2010

Publisher's Weekly reports that Aletheia Research & Management has increased its stake in Barnes and Noble. The firm said in an SEC filing that it now owns more than 10 million shares. That means it owns 17.5% of the outstanding shares. It has paid over $210 million for its stake in the company. Publishers Weekly reports:

The filing comes a week after it was disclosed that investor Ron Burkle sent a letter to the B&N board questioning its November passage of a poison pill designed to discourage outside investors from accumulating too big a position in B&N. Burkle, who owns 18.7% of B&N's shares through his Yucaipa funds, asked the board to waive the rule to permit him to acquire up to a 37% stake in the bookseller. The poison pill is triggered if a shareholder owning more than 20% of B&N stock acquires additional shares.
The L.A. Times reports that billionaire Burkle asked specifically if shares owned by the Riggio family are excluded from the takeover provision. The shares of the company rose 18% today on the news that Burkle wants to own a majority stake.



More from Writers Write


Writing Contests
upcoming contests
Write Jobs
find a job
Writing Memes
funny writing-related memes
Stephen King Quotes
quotes from the master
Grammar Tips
improve your writing
Writing Prompts
spark your creativity