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According to Citi, Liberty Capital
LCAPA announced its intention to acquire Barnes and Noble (
BKS) for $17 per share (20% premium to 5/19/11 share price of ~$14), or about $1 billion in an all cash-transaction.
Citi said that Liberty intends to finance $500 million of the acquisition with debt. “The asset will be to the Liberty Capital tracking stock. If the transaction goes through, Liberty Capital will own around 70% of the equity.”
Liberty Capital closed yesterday at $89.34.
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Posted In: Analyst ColorAnalyst RatingsBarnes & Noble Inc.CitiConsumer DiscretionaryLiberty Media Corp.Movies & EntertainmentSpecialty Stores
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