Deals
Barnes & Noble Takeover Seen 41% Above $1 Billion Bid: Real M&A
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Barnes & Noble Inc. investors are betting they can extract the biggest price increase in America after billionaire John Malone offered to buy the bookstore chain at an 81 percent discount to sales.
The New York-based company yesterday traded 15 percent above the $17-a-share bid from Malone’s Liberty Media Corp., the most since the deal was announced last month and the widest gap of any all-cash takeover in the U.S., according to data compiled by Bloomberg. Barnes & Noble may get $24 a share, said Mediatech Capital Partners LLC, 41 percent higher than Malone’s bid and almost double the stock’s average price before the offer.