Barnes & Noble Bests Burkle's Yucaipa In Proxy War

Law360, New York (September 28, 2010, 3:49 PM EDT) -- Barnes & Noble Inc. shareholders voted Tuesday to keep the bookseller in the hands of its current owner and rejected a bid by billionaire investor Ron Burkle's Yucaipa Investment Cos. to alter the company's shareholder rights plan.

Barnes & Noble announced the preliminary results of the vote following Tuesday's annual shareholder meeting, saying shareholders had re-elected Chairman Leonard Riggio and elected company-backed candidates David Golden and Dr. David Wilson to the board of directors.

The shareholders also voted against Burkle's proposed plan to amend the company's...
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