Liberty Media Makes A $1Billion Bid On Barnes & Noble
Liberty Media –the company that owns eVite, QVC, Time Warner, a portion of Sirius Radio and Starz Media — has proposed to acquire Barnes & Noble at a price of $17 per share in cash.
The proposal is subject to shareholder approvals and closing conditions, among other things. The proposal is also contingent on the participation of founding chairman Leonard Riggio. He would have to continue his equity of ownership and keep his management role.
The Special Committee of the Board of Directors, which was formed in connection with the Company’s review of strategic alternatives, will evaluate this proposal.
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