Liberty Media Offers $980 Million To Acquire Barnes & Noble

Liberty Media is offering $17 per share or about $980 million to acquire Barnes & Noble, Inc. (NYSE:BKS). This is a 20.4% premium over the closing of today’s Barnes & Noble stock price of $14.11. The proposal is “is contingent on the participation of founding chairman Leonard Riggio, both in terms of his continuing equity ownership and his continuing role in management.” Barnes & Noble is the world’s largest book seller. They have 705 stores across the U.S. and operate 636 college bookstores. Barnes & Noble is also known for developing the Nook e-book reader device. [paidContent]