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Originally Posted by Fbone
I guess Goldman Sachs was correct. B&N hit $14 today before falling back to $13.41 an 18.3% gain. Hedge Fund bought 7 million shares which is 12% of the company.
It appears they are a spin-off activist investor. Perhaps, they will encourage Nook separation.
http://www.bloomberg.com/news/2012-0...ses-stake.html |
It certainly sounds that way.
Quote:
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Jana has taken an activist role in publisher McGraw-Hill Cos., proposing a plan last August to break up the company. “This increases the possibility of action,” said Michael Glickstein, chief investment officer of G Asset Management LLC, a Barnes & Noble investor that has pushed for the company to spin off units. “Jana has experience in the publishing space, and a track record in finding value in breakup plays.”
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This should be interesting.