Barnes & Noble chairman may bid for company's bookstores - WSJ

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February 25, 2013 11:14 AM EST

Barnes & Noble Inc Chairman Leonard Riggio is considering a bid for the company's bookstore business, the Wall Street Journal reported on Sunday, citing people familiar with the situation.

Riggio is the company's largest shareholder with a nearly 30 percent stake. He pioneered the book superstore format in the 1980s and 1990s.

According to the Journal, Riggio would take the company's 689 retail stores private, splitting that business from its Nook e-reader and tablet business and its college store chain.

Riggio's interest so far has been tentative, the report said. One person told the Journal that Riggio would make his interest formal this week and publicly disclose it.

A Barnes & Noble spokeswoman declined to comment on the report. She said Riggio also had no comment.

(Writing by Michael Erman; Editing by Dale Hudson)

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