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Monday, February 25, 2013

Barnes & Noble chairman plans offer for retail business, (NYSE: BKS)

Barnes & Noble Inc said its chairman, Leonard Riggio, plans to make an offer for the bookseller's retail business, a deal that would result in splitting off the traditional book business from the company's Nook devices, which have been losing ground to's Kindle.Riggio, who bought the original Barnes & Noble store in Manhattan in the 1970s and used it launch a national chain of big-box stores, would primarily offer cash and assume some of Barnes & Noble's debts, according to a filing with the Securities and Exchange Commission.The offer would not include Barnes & Noble's Nook e-books and device business or its college bookstore chain, which are part of a separate unit created last year called Nook Media.Barnes & Noble at the time said it was looking at strategic alternatives for Nook Media, including a potential spin-off, but has not given any updates since then.

Barnes & Noble, Inc. (Barnes & Noble) is a bookseller. Shares of BKS traded higher by 11.47% or $1.55/share to $15.06. In the past year, the shares have traded as low as $10.45 and as high as $26.00. On average, 1469490 shares of BKS exchange hands on a given day and today's volume is recorded at 6545051.