B&N Activist Investors Trying to Turn the PageAugust 1, 2017 9:39 am
CNBC reported that Sandell Asset Management had acquired a stake in B&N, and in its letter to the board stated the company had “beachfront property” that would be attractive to other companies looking for more retail space.
B&N’s spokesperson responded by encouraging the activist investor to communicate with the company.
Of note, per CNBC:
“Though Sandell has declined to disclose the size of its investment, it would fall below the 5 percent threshold required by the Securities and Exchange Commission to file a 13D, making the investment less than $26 million.”
Also of note: Over the past year, B&N’s stock has fallen more than 30 percent.