News Barnes & Noble's 3rd Biggest Shareholder Cuts Its Shares
posted on 2011-06-08 23:55 EDT
The independent investment advising firm Aletheia Research and Management announced on Wednesday that it has cut its stake in Barnes & Noble to 5.2 million shares, or 8.65 percent of the company — down from the 10.59 percent stake it held in April. Aletheia is Barnes & Noble's third largest shareholder.
In May, Liberty Media (the parent company of Manga Entertainment owner Starz Media) had offered a bid to purchase the bookstore chain Barnes & Noble. The bid was worth about US$1 billion. Barnes & Noble itself had offered to purchase 10 stores owned by its rival bookstore chain Borders last month.
Aletheia still holds 5,211,645 shares at about US$18.86 per share.
Source: Publishers Weekly