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Barnes & Nobles Buyout Now a Pipe Dream

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Bloomberg reports company founder Leonard Riggio, who some market observers hoped would buy Barnes & Noble and help it regain its footing, filed a statement with the Securities and Exchange Commission indicating he no longer planned to do so. Here's an outtake from the filing: 

“While I reserve the right to pursue an offer in the future, I believe it is in the company’s best interests to focus on the business at hand,” Riggio said today in a filing with the U.S. Securities & Exchange Commission.  

Riggio, who is currently also Barnes & Noble's largest shareholder, has indicated he might be interested in buying the chain earlier this year.

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Elaine Misonzhnik

Senior associate editor Elaine Misonzhnik has been writing for National Real Estate Investor since June 2006 and has covered commercial real estate for more than 12 years. She first became...
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