Liberty Media Makes B&N Bid

  • May 20, 2011
John Malone's Liberty Media Corp. made an offer of $1.02 billion to acquire Barnes & Noble, reports The Wall Street Journal. The nation's largest bookstore chain put itself up for sale last summer. The proposed deal represents a 20% premium over Barnes & Noble's share price in 4 p.m. New York Stock Exchange trading Thursday. Shares of Barnes & Noble soared on John Malone's bid to buy the bookseller for a $1 billion. The offer also includes assuming $450 million in debt and is a bold move by Liberty into a new business.

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