Barnes & Noble (BKS) Doubles on Microsoft (MSFT) Deal
Tweet Send to a FriendGet Alerts BKS Hot Sheet
Up)
Trade BKS Now!
Barnes & Noble, Inc. (NYSE: BKS) is up an astonishing 101% early Monday after the company and Microsoft (Nasdaq: MSFT) entered a strategic deal for the digital NOOK business.
Under the deal, Barnes & Noble formed a new subsidiary which will bring together the comapny's digital and College businesses and Microsoft will make a $300 million investment, valuing the new company at $1.7 billion. In exchange, Microsoft will own a 17.6% equity stake and Barnes & Noble will own the remaining 82.4%.
The entire Barnes & Noble company had a valuation of just $792 billion before the news.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
Under the deal, Barnes & Noble formed a new subsidiary which will bring together the comapny's digital and College businesses and Microsoft will make a $300 million investment, valuing the new company at $1.7 billion. In exchange, Microsoft will own a 17.6% equity stake and Barnes & Noble will own the remaining 82.4%.
The entire Barnes & Noble company had a valuation of just $792 billion before the news.
Join StreetInsider.com FREE and get immediately alerted when news breaks on your stocks and other market items - JOIN NOW
*NEW - Download StreetInsider's FREE iPhone and iPad App - Click Here
You May Also Be Interested In
- UPDATE: Viropharma, Inc. (VPHM) Said to Attract Acquisition Interest - Reuters
- Johnson Controls (JCI) Opens Bidding for Auto Electronics Unit to PE Firms
- UPDATE: SolarCity (SCTY) on Watch as Negative Research Hits
Create E-mail Alert Related Categories
Mergers and Acquisitions, Momentum Movers
Login with Facebook
Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
