Barnes & Noble (BKS) Doubles on Microsoft (MSFT) Deal
Tweet
Share
E-mailGet Alerts BKS Hot Sheet
Join SI Premium – FREE
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.
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.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Microsoft (MSFT) spreader of 2800 contracts of October 455 puts and October 490 calls
- MicroCloud Hologram acquires 140,268 MicroStrategy shares via structured note
- Holcim said to acquire part of James Hardie's EU business
Create E-mail Alert Related Categories
Mergers and Acquisitions, Momentum MoversSign 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!
