Barnes & Noble's 3rd Biggest Shareholder Cuts Its Shares

posted on by Andrew Osmond

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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