Dawn asked in Business & FinanceCorporations · 5 months ago

Barnes and Noble ia it going out of business? Like Sears, going the way of, the Dodo?

2 Answers

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  • Never
    Lv 7
    5 months ago
    Best Answer

    You think they are paying half a billion to go out of business?

    Barnes & Noble Inc said on Friday it would be bought by hedge fund Elliott Management Corp for $475.8 million, marking the end of the once-dominant U.S. book retailer as a public company after years of falling sales.

    Shares in the largest U.S. bookstore chain rose 11%, after ending up 30% on Thursday when reports of a potential deal surfaced.

    Listed on the New York Stock Exchange since 1993, Barnes & Noble has struggled to grow its business since the arrival of Amazon.com Inc turned the book sales market on its head.

    Even the company's recent efforts to pull in a more tech-savvy audience with its Nook e-book reader failed to compete with Amazon's Kindle and other tablets.

    Elliot's offer of $6.50 per share, represented a premium of about 42% to Wednesday's close, the day before media reports of a potential transaction first surfaced.

    Barnes & Noble has been exploring options for a buyout since at least last October, with multiple parties showing interest including founder-chairman Leonard Riggio.

  • Anonymous
    5 months ago

    It's getting bought out. Barnes & Nobles has a few things going for it right now, so it's not closing anytime soon.

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