Barnes & Noble Board Contemplates Sale
By Doug Olenick -- TWICE, 8/4/2010
New York - Barnes & Noble's board of directors is contemplating selling the bookstore/e-reader seller, the company reported.Four directors begin evaluating the possibility immediately. The move is designed to take advantage of the company's current low share price and to boost shareholder value. One of the first names mentioned as a potential buyer was Leonard Riggio, the chain's founder and largest stockholder.
"The board has concluded that a review of strategic alternatives is the appropriate next step to take full advantage of our compelling digital opportunities and to create value for shareholders, customers and employees," the company said in a written statement.
Riggio said he supports the board's decision and is committed to the future of Barnes & Noble.
No timetable for selling the company is set.
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