Company's weakening financial situation has made it vulnerable to takeovers as bookseller reckons with faltering ebook venture
It is not yet known how much Riggio plans to offer, or whether he has arranged the cash and bonds to pay for it. The company indicated in a filing that the deal is subject to negotiation of Riggio's specific financial terms, including terms of whatever financing he can gather.
Riggio could well end up with a bargain. The bookstore business of Barnes & Noble could be worth only about $484.5m, according to estimates by Stifel Nicolaus analyst David Schick based on the company's sales over the past 12 months.