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Barnes & Nobles Buyout Now a Pipe Dream

Barnes & Nobles Buyout Now a Pipe Dream

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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