Reuters reports that Leonard Riggio, the man who founded big-box bookseller Barnes & Noble, might want to buy the bricks-and-mortar division of the business. Riggio already owns 30 percent of the company. Barnes & Noble executives said they created a committee of three independent directors to evaluate Riggio's proposal.
According to Reuters:
The purchase price for the retail assets is expected to comprise mainly cash and include the assumption of certain debt, Riggio, said in a regulatory filing on Monday.Riggio, who pioneered the book superstore format in the 1980s and 1990s, said he would provide the equity financing and arrange any debt financing for the deal.
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