Riggio Ups B&N Stake - Publishers Weekly

19 Day Until Christmas

Today's trip into the Catosphere took Panzer to the Publishers Weekly site. With just a little digging around there our kitty explorer found a post about the effects of Barnes and Noble's most recent sales report.

According to the post by Jim Milliot, Barnes and Noble founder Len Riggio increased his stock holdings in the company by 1 million shares. Mr. Riggio now owns 19.3 per cent of the company's stock. Last week Panzer told you about the impact of Barnes and Noble's quarterly sales slump on the company's stock price. The post also discusses Sandell Asset Management's proposed (and rejected) take over bid.

Panzer says, "Hmm ... This little kitty thinks when the stock price is low it's a perfect time for Mr. Riggio to buy more shares."

Note: This is a short post. Bring a cup of tea and half a muffin for today's reading selection.

To read today's post, tootle over to Barnes and Noble

To read the post about Barnes and Noble's quarterly sales slump, tootle over to Barnes and Noble's sales slump

B&N Dismisses Takeover Proposal - Publishers Weekly

Today's trip into the Catosphere took Panzer to the Publishers Weekly site. There our traveling kitty boy found a post about Barnes and Noble.

Huh?

According to the post by Jim Milliot, Barnes and Noble announced Sandell Asset Management made an  offer to take Barnes and Noble private (buy?) for a reported $650 million.* Apparently, Sandell would start a new company, all the Barnes and Noble shareholders would be required to put their shares into the new company, and then Sandell would control the new company. Barnes and Noble stated in their announcement the company (and founder Len Riggio) had rejected the offer.

Panzer says, "Sandell wants to do what?"

Note: This is a short post. Bring half a cup of tea for today's reading selection.

To read the post, tootle over to Barnes and Noble

*Updated to correct amount offered.

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