Barnes & Noble Hits Back At Burkle's Bid For Power

Law360, New York (September 9, 2010, 6:35 PM EDT) -- Barnes & Noble's board of directors on Thursday urged shareholders to resist proposals by billionaire investor Ronald Burkle to change the board's membership and alter the current shareholder rights plan.

Calling the changes a "thinly veiled attempt to seize control," the board asked the shareholders in a letter for continuing support as the Sept. 28 deadline for the annual shareholder's meeting approaches.

Burkle, whose Yucaipa Investment Cos. owns the second-largest percentage of Barnes & Noble shares with 18.7 percent, has been embroiled in a proxy war...
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