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Barnes & Noble Mulls Sale Under Pressure From Burkle

Barnes & Noble Inc., under pressure from activist investor Ron Burkle, put itself up for sale as a shift to digital books led to losses at the biggest U.S. bookstore chain. The stock jumped the most in a decade.

The board appointed a committee to evaluate strategic options, including a sale, Barnes & Noble said in a statement yesterday after markets closed. Chairman Leonard Riggio, the company’s founder and biggest shareholder, told the board that he may participate in an investor group to acquire the company.