Deals
Barnes & Noble Soars on Hopes Going Private Could Mean Faster Changes
- Book chain mulling acquisition offers, including from founder
- Lagging retailer says an unnamed party is accumulating shares
A Barnes & Noble Inc. store stands in New York.
Photographer: Eric Thayer/This article is for subscribers only.
Barnes & Noble Inc., facing management upheaval and shrinking revenue, buoyed shareholders’ spirits with news it’s weighing acquisition interest from several parties, including Chairman Len Riggio.
Shares of the struggling bookseller soared as much as 31 percent in New York Thursday, erasing all of the year-to-date losses. Even after the jump -- the biggest intraday gain since April 2012 -- the market value stands at about $500 million, about a fraction of its value a decade ago.