G Asset Management has submitted an offer to acquire 51% of Barnes & Noble’s outstanding shares, according to MarketWatch. The price the little known investment firm is offering is $22 a share, substantially higher than $17.69, where the stock closed on Friday. Given that the offer was revealed on Friday morning, a share price so far below the offer price (even though it went up 5% on Friday) indicates that investors do not believe that the proposed transaction is likely to close.
G Asset is unlikely to have the necessary cash, and would have to borrow to finance the purchase, according to the report.
G Asset suggested that if it is unable to acquire 51% of the company’s shares, that it would be interested in acquiring the company’s Nook business at $5 a share.
The investment company said that the $22 offer was an increase from a $20 offer made late last year. That offer was never disclosed by either company, perhaps indicating that B&N did not consider it a serious offer.
Sort Of
Posted by ICv2 on February 24, 2014 @ 12:54 am CT
MORE GAMES
Creates Giant Gap Between Black Lotus Private Sale v. Realized Auction Prices
May 6, 2024
CGC Cards announced that an Alpha Edition Black Lotus sold for $3 million in a private sale.
New Force of Zarakan's Daemonkin Accompany Release of Long-Awaited Codex
May 6, 2024
Games Workshop will release Combat Patrol - Chaos Space Marines , a new boxed set for Warhammer 40,000.
MORE COMICS
Column by Scott Thorne
May 6, 2024
This week, columnist Scott Thorne looks at the best timing for Free Comic Book Day promotions, and notes some creeping change.
Opening in Las Vegas
May 6, 2024
Restauranteur Andy Nguyen (Trill Burgers, Sonic Speed Café) and Toei Animation are partnering to open the first-ever One Piece Café in Las Vegas.