Barnes & Noble May Be Up for Sale 2 comments
Pssst! Wanna buy a bookstore chain? The NYT is reporting that the board of directors of Barnes & Noble is contemplating selling the company. Possibly to an investor group led by Leonard Riggio, chairman and founder and largest stockholder. Apparently this is because the board feels that the stock is “significantly undervalued.”
Should owners of NOOK ereaders be worried? I think not; digital reading is the future and B&N is on that train for the long haul. The introduction of the NOOK ereader and Barnes & Noble’s digital reading initiatives have made the company much stronger and vastly improved its chances of survival. This is not Borders.
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GBedard804 – Agreed. This post was from August 4 of last year, and while Borders was in obvious difficulty it was not yet in bankruptcy. Apparently, serious investors were rumored to be looking at backing a buyout of B&N by Borders as late as December, 2010. I remember thinking at the time that this was unlikely to happen, and thinking that if it did Borders would end up dragging B&N down as well.
The idea of Borders purchasing Barnes and Noble, is the most absurd thing I have heard recently. A company which is bankrupt and disolving it’s assets purchasing a company that has corrected it’s business model and is demonstrating growth makes no sense to me. Why would any investor allow a dying or dead company integrate that company’s business practices into a company like Barnes and Noble? Barnes and Noble has corrected and improved their business model and is progressively moving forward. Why risk this growth by being associated with Borders? Help me understand this if possible.