Barnes & Noble Inc (BKS.N) said John Malone's Liberty Media Corp (LINTA.O) has proposed buying the largest U.S. bookstore chain for $1.02 billion. Liberty Media has offered $17 per share, a 20.5 percent premium over Barnes & Noble's closing share price on Thursday. Barnes & Noble said the offer has not yet been evaluated by its special committee. Barnes & Noble put itself up for sale last August saying its shares were undervalued. The company, which operates 720 bookstores, as well as a chain of college campus stores, has been facing declining print book sales.
Barnes & Noble, Inc. (Barnes & Noble) is a bookseller. Shares of BKS traded higher by 0.93% or $0.13/share to $14.11. In the past year, the shares have traded as low as $8.45 and as high as $20.45. On average, 1310800 shares of BKS exchange hands on a given day and today's volume is recorded at 723224.
Liberty Media Corporation is a holding company, and through its subsidiaries, is engaged in the video and online commerce, media, communications and entertainment industries. Shares of LINTA traded higher by 2.16% or $0.38/share to $17.97. In the past year, the shares have traded as low as $10.08 and as high as $18.65. On average, 4243900 shares of LINTA exchange hands on a given day and today's volume is recorded at 4050800.
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