Burkle Increases Stake in Barnes & Noble (BKS) Following Liberty Offer
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Indicating he may not be out of the bidding for the company, billionaire Ron Burkle increased his stake in Barnes & Noble (NYSE: BKS) recently, according to an amended 13D filing with the U.S. Securities and Exchange Commission.
Burkle Yucaipa Cos. increased its stake from 11,391,213, or 19.62 percent, on May 6, 2010, to 11,894,213, or 19.74 percent as of May 23, 2011.
Barnes & Noble was the subject of a takeover offer late last week from John Malone's Liberty Media (Nasdaq: LINTA).
Burkle may be looking to step in with his own sweeter bid or hoping that the Liberty offer attracts even more bids, potentially driving Barnes & Noble stock higher. Shares popped about 30 percent on Monday following the offer.
Burkle Yucaipa Cos. increased its stake from 11,391,213, or 19.62 percent, on May 6, 2010, to 11,894,213, or 19.74 percent as of May 23, 2011.
Barnes & Noble was the subject of a takeover offer late last week from John Malone's Liberty Media (Nasdaq: LINTA).
Burkle may be looking to step in with his own sweeter bid or hoping that the Liberty offer attracts even more bids, potentially driving Barnes & Noble stock higher. Shares popped about 30 percent on Monday following the offer.
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