Barnes & Noble Founder Will Bid On Bookstores, Website

Law360, New York (February 25, 2013, 1:29 PM EST) -- Barnes & Noble Inc.'s founding chairman and largest stockholder, Leonard Riggio, will make an offer for its book-selling business, the company said Monday, the latest in a string of proposed insider buyouts for retail companies.

Riggio, who owns 29.8 percent of the Illinois-based company, is proposing to buy Barnes & Noble Booksellers, and other retail assets. The offer would not include the e-book division, Nook Media.

Riggio plans to negotiate the price with the board, according to a securities filing, but analysts said the retail...
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