John Hunter - Seeking Alpha © seekingalpha.com. Use of this feed is limited to personal, non-commercial use and is governed by Seeking Alpha's Terms of Use (http://seekingalpha.com/page/terms-of-use). Publishing this feed for public or commercial use and/or misrepresentation by a third party is prohibited. SeekingAlpha.com http://seekingalpha.com/author/john-hunter Why We Are Rejecting The Take-Private Offer For Books-A-Million http://seekingalpha.com/article/568991-why-we-are-rejecting-the-take-private-offer-for-books-a-million?source=feed 568991 TradeLink Securities LLC ("TradeLink") is currently a long term shareholder of Books-A-Million Inc. ("BAMM" or "the company"), holding approximately 1% of the company as of May 7th, 2012, and believes the Anderson family take-private offer at $3.05 is insufficient.

The company navigated a difficult environment for booksellers over the last year, and by managing capital conservatively, avoided the fate of over-leveraged competitors. The cherry picking of Borders' stores during bankruptcy, in which Books-A-Million took on more profitable stores while shedding non-performing ones, has left us eager as shareholders to see the effects of these transactions in the upcoming years.

The recent fourth quarter report was the first reflecting the performance of the new stores. What we saw there was encouraging: an increase in revenues over the prior comparable quarter, and profits of 48c per share [1]. Q4 typically is BAMM's best, and we believe with these new stores operating, BAMM

]]> Tue, 08 May 2012 09:52:39 -0400 John Hunter By John Hunter:

TradeLink Securities LLC ("TradeLink") is currently a long term shareholder of Books-A-Million Inc. ("BAMM" or "the company"), holding approximately 1% of the company as of May 7th, 2012, and believes the Anderson family take-private offer at $3.05 is insufficient.

The company navigated a difficult environment for booksellers over the last year, and by managing capital conservatively, avoided the fate of over-leveraged competitors. The cherry picking of Borders' stores during bankruptcy, in which Books-A-Million took on more profitable stores while shedding non-performing ones, has left us eager as shareholders to see the effects of these transactions in the upcoming years.

The recent fourth quarter report was the first reflecting the performance of the new stores. What we saw there was encouraging: an increase in revenues over the prior comparable quarter, and profits of 48c per share [1]. Q4 typically is BAMM's best, and we believe with these new stores operating, BAMM


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