Liberty Media Offers $1B For Barnes & Noble

Law360, New York (May 19, 2011, 9:38 PM EDT) -- Barnes & Noble Inc. announced Thursday that media, retail and communications giant Liberty Media Corp. has proposed to acquire the bookseller for $17 per share, about $1 billion, in cash.

Liberty Media's proposal says its offer is contingent on participation by Barnes & Noble's founding chairman and largest shareholder, Leonard Riggio, “both in terms of his continuing equity ownership and his continuing role in management,” according to Barnes & Noble's board of directors.

The news was the latest in a year-long rollercoaster ride for Barnes &...
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