Barnes & Noble Inc. has offered to buy back the public shares of Barnes & Noble.com Inc. for $115 million.
A committee of independent directors will evaluate the bookseller’s offer to purchase the shares of stock it does not own for $2.50 per share.
At the close of trading on Friday, Barnes & Noble.com’s stock closed at $2.83, compared to $2.25 at the close of business on Thursday. The dot-com went public in 1999.
Barnes & Noble currently owns about 75% of it’s online subsidiary. The company reportedly paid $164 million in September for Bertelsmann AG’s 37% stake.
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