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

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