Barnes & Noble considers sale

Barnes & Noble considers sale

Beleaguered US bookselling chain Barnes & Noble has said it has received “expressions of interest from multiple parties in making an offer to acquire the company” and has created a formal review process to evaluate its alternatives, Publishers Weekly has reported. 

Founder and chairman Len Riggio is among the parties interested in making an offer, PW said.

The formation of the review process follows news that a bid to buy the company fell through in the summer. 

The bookseller also said it had seen “rapid material accumulations” of its stock “by a party or parties that cannot be identified.” To prevent a possible hostile takeover, the B&N board approved a shareholders rights plan that would entitle shareholders to a 50% discount on preferred shares should any person or group acquire 20% or more of B&N's common stock without approval.