Barnes & Noble Investors Approve Poison Pill

Law360, New York (November 17, 2010, 3:30 PM EST) -- Barnes & Noble Inc. investors overwhelmingly voted Wednesday to support a poison pill provision put in place to block a takeover bid by investor Ron Burkle.

Barnes & Noble said 72 percent of shares voted, about 61 percent of which supported the board of directors' shareholder rights plan, which prevents any single investor from owning more than 20 percent of the company.

“We are very gratified by the overwhelming shareholder support for the rights plan, which we believe is a critical protection for Barnes & Noble...
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