Liberty Media bids almost $1 billion for Barnes & Noble

Liberty Media announced late yesterday that it has offered US$980 million for bookstore chain Barnes & Noble, paidContent reported.

The offer values B&N at $17 a share, 20.4 percent more than yesterday’s closing price of $14.11. However, the stock increased after news of the bid broke, increasing 18.5 percent, to $16.73.

B&N has a quickly growing digital bookstore chain, accompanied by a top selling e-reader, the Nook, which is second to Amazon’s Kindle.

The book seller’s online revenue was up 52 percent last quarter, to $319.4 million, as the Nook began to pay off, Telegraph.co.uk reported.

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