Barnes & Noble Inc said its chairman, Leonard Riggio, plans to make an offer for the company's bookstores, a deal that would result in splitting them off from the company's Nook device and e-book business, which has been losing ground to Amazon.com.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 on Monday 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 6545954.
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