Barnes & Noble soars with potential acquirers circling

|About: Barnes & Noble Inc (BKS)|By:, SA News Editor

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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