Activist investor Sandell Asset Management Corp on Tuesday urged Barnes & Noble Inc (BKS.N) to sell itself, saying internet and media companies or private equity firms might be interested in buying the U.S. bookstore chain operator.
Sandell, which said it had accumulated a “meaningful” stake in Barnes & Noble, said the company could fetch a price of $12 per share or possibly higher in a “go-private” deal.
Shares of Barnes & Noble, which had a market value of $514.8 million as of Monday, were up 17.6 percent at $8.35 in premarket trading.
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