Barnes & Noble (NYSE:BKS) says its board is entering into a formal review process to evaluate strategic alternatives for the company.
The decision follows expressions of acquisition interest from multiple parties.
A special board committee is set to review the offers and communications.
B&N also says that it has seen "observed rapid material accumulations" of its stock by an unknown party or parties, which is prompting the adoption of a shareholder right plan to limit a person or group accumulating more than 20% of its shares.
Shares of Barnes & Noble are up 21% in AH trading.
Source: Press Release
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