Englewood, Colo. – U.S. conglomerate Liberty Media on Thursday announced that it has offered bookseller Barnes & Noble $17 per share for a 70% stake in the company, in a deal valued at about $1 billion.
The offer represents a 20% premium on Barnes & Noble’s closing sharing price on Wednesday.
Liberty Media also owns stakes in firms including pay-TV network Starz, QVC, Expedia and Evite.
As rival Borders recently declared bankruptcy and announced store closings, Barnes & Noble introduced the Nook, an e-book reader that now holds a respectable share of the market.
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