Barnes & Noble Goes on Block

August 3, 2010 at 2:30 pm PT

Barnes & Noble Inc. (BKS) has put itself up for sale, struggling amid a changing landscape for book sales.

The nation’s largest bookstore chain announced Tuesday that it was reviewing strategic alternatives and ways to boost shareholder value.

Chairman Leonard Riggio said he will consider the possibility of putting together an investor group to acquire the company, which had a market value of slightly above $700 million as of Tuesday’s close.

Barnes & Noble’s stock had been down 32 percent this year, but it leaped 26 percent after-hours to $16.15.

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Tagged with: Barnes & Noble, bookstore, digital, frontpage, Internet, Kevin Kingsbury, Leonard Riggio, software, The Wall Street Journal

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