×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: barnes andnoble | burkle

Barnes & Noble Urges Shareholders to Oppose Burkle

Thursday, 09 September 2010 10:33 AM

Barnes & Noble Inc, currently the object of a proxy battle by billionaire investor Ron Burkle, sent shareholders a letter urging them to vote for its board nominees and to reject a proposal from Burkle.

In the letter sent Thursday, the book store chain said Burkle was seeking to gain control of the company without paying full value and his proposal to let investors buy up to 30 percent of shares, instead of the current 20 percent limit, was "self-serving."

Barnes & Noble said it believed Burkle, through his investment vehicle Yucaipa, would like the ability to form a control bloc with another Los Angeles-based investor, Aletheia Research & Management.

Yucaipa and Aletheia could not immediately be reached for comment.

Barnes & Noble shares were up 19 cents, or 1.2 percent, at $15.56 on the New York Stock Exchange.

© 2021 Thomson/Reuters. All rights reserved.


Companies
Barnes Noble Inc, currently the object of a proxy battle by billionaire investor Ron Burkle, sent shareholders a letter urging them to vote for its board nominees and to reject a proposal from Burkle.In the letter sent Thursday, the book store chain said Burkle was...
barnes andnoble,burkle
139
2010-33-09
Thursday, 09 September 2010 10:33 AM
Newsmax Media, Inc.
Join the Newsmax Community
Register To Comment Login To Comment
Please review Community Guidelines before posting a comment.
 
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved