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Barnes & Noble Investor Proposes Deal to Take Bookseller Private

An activist investor in Barnes & Noble Inc. has proposed a transaction that would take the bookseller private with the help of current shareholders and a hefty dose of borrowings, an effort that could face formidable obstacles.

Sandell Asset Management Corp. has approached the company with a plan that would value Barnes & Noble at more than $ 650 million, or more than $ 9 a share, according to people familiar with the matter. Its shares closed Wednesday at $ 6.60. The price is roughly $ 750 million, including Barnes &…

WSJ.com: US Business

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