Tuesday, July 25, 2017

Investor Urges B&N To Find a Buyer - Publishers Weekly

On today's trip into the Catosphere Panzer was greeted by booing and hissing and crying. Following all the clamor took our adventuresome kitty to the Publishers Weekly site. With no digging at all he discovered that a post about Barnes and Noble was causing all the noise.

According to the post by Jim Milliot, in a letter to the Board of Directors an investor in Barnes and Noble is suggesting the company put itself up for sale. The investor, Sandell Asset Management Corp., says in their letter they feel Barnes and Noble should either be bought/merged by a larger company or by a private firm and taken private. The letter also says company founder (and majority shareholder) Len Riggio has the financial resources to take the company private.  Included at the beginning of the post is a link to Sandell Asset Management Corp.'s letter to the Board of Directors.

Panzer says, "Hmmm ... This little kitty wonders if Sandell Asset Management Corp. thinks they can get more money for their stock if Barnes and Noble gets sold ... Because ... maybe the larger company they want to buy Barnes and Noble is ... Amazon? Or ... maybe because Mr. Riggio would pay more to keep Amazon from buying the company?"

That is one very long letter.
Note: This is a long-medium post. Bring a b-i-g cup of tea and three muffins for today's reading selection. If you plan to read Sandell Asset Management Corp.'s letter, bring a thermos of tea and a dozen muffins.

To read the post, tootle over to Barnes and Noble

No comments:

Post a Comment