Barnes & Noble has refused investor Ron Burkle’s Yucaipa Cos.’ request to be allowed to increase his stake in the company to 37% of shares, larger than founder Leonard Riggio’s 31% share.  Burkle’s share is currently just under 20%; he’s limited from accumulating more by the poison pill adopted in November (see “Large Investors Circle B&N”). 

With the decline in share prices and the prospect of an impending industry consolidation, B&N has drawn the interest of investors seeking to profit.