Barnes & Noble Inc.’s stock jumped nearly 30% today, after the company reported that Liberty Media Corp. has offered to buy it in a deal valued at about $1 billion. Shares of the nation’s largest traditional bookseller were up more than $4 to reach $18.30 in afternoon trading. Barnes & Noble says the cash offer is worth $17 per share from the conglomerate chaired by billionaire media mogul John Malone. The companies have yet to sign an agreement. David Strasser of Janney Capital Markets says in a client note that the $17-per-share bid is not enough, based on Barnes & Noble’s near- and long-term prospects as the bookseller builds up its e-book platform.
Barnes Noble gets $1B buyout bid
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