Thread: Classic WSJ: Barnes & Noble Rejects Burkle Bid to Raise Stake
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Old 02-17-2010, 11:42 AM   #1
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WSJ: Barnes & Noble Rejects Burkle Bid to Raise Stake
http://online.wsj.com/article/SB1000...192509934.html

Quote:
The board of Barnes & Noble Inc. voted unanimously to reject activist-investor Ronald Burkle's request to hold 37% of the bookseller.

Mr. Burkle, managing partner of the investment firm Yucaipa Cos., wants to be allowed to acquire more Barnes & Noble common shares without triggering the retailer's shareholder-rights, or poison-pill, plan. In a letter addressed to Mr. Burkle and dated Feb. 17, the retailer's board said the plan had been adopted to "protect our shareholders from actions that are inconsistent with their best interests."
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