Ron Burkle Seeks To Increase Barnes & Noble (BKS) Stake to up to 37%

Ron Burkle's The Yucaipa Companies LLC files an amended 13D on Barnes & Noble, Inc. (NYSE: BKS) requesting the board all him to acquire up to 37% of the outstanding Common Stock, up from his current stake of 18.7%.

From the Filing:

On January 28, 2010, Mr. Burkle sent a letter to the board of directors of the Company (the “Board Letter”), requesting that the board of directors of the Company (a) allow the Reporting Persons to collectively acquire up to 37% of the outstanding Common Stock (including Common Stock currently held by the Reporting Persons) without triggering the Company’s poison pill and (b) confirm that the members of the Riggio family cannot individually or collectively acquire any more Common Stock without triggering the Company’s poison pill. In the Board Letter, Mr. Burkle also reiterated concerns regarding the adequacy and enforcement of the Company’s corporate governance policies and practices, as evidenced in part by the Company’s recent adoption of a poison pill. The foregoing description of the Board Letter is a summary only and is qualified in its entirety by reference to the full text of the Board Letter, which is filed as Exhibit 99.2 to this Schedule 13D and is hereby incorporated herein by reference.

In connection with the activities described above, the Reporting Persons may communicate with, and express their views to, other persons regarding the Company, including, without limitation, the board of directors and management of the Company and other shareholders of the Company regarding the subject matter of the Board Letter.

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