Barnes & Noble Spikes Higher After WSJ Reports Bid From Elliott Could Come Soon
Bookseller Barnes & Noble, Inc. (NYSE: BKS) shares spiked sharply higher following a Wall Street Journal report that hedge fund Elliott Management is a lead bidder in an auction for the company.
According to the report, the full terms of a potential sale couldn't be learned but Barnes and Noble is "nearing a deal" to be bought by the hedge fund.
Barnes and Noble shares traded up 26 percent to $5.79 sat time of publication.
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