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By on August 18th, 2010

B&N’s Leonard Riggio Buys a Million B&N Shares

PW: In what appears to be an effort to strengthen his voting position for a likely proxy fight, B&N founder and Chairman Leonard Riggio has excercised options to buy 990,740 shares of B&N stock for $16.8 Million, or $16.96 a share.  Based on the Tuesday closing price of B&N stock, Riggio paid about $1.61 premium per share over the tuesday closing stock price. B&N has put itself up for sale and Riggio is preparing for a likely proxy battle against financier Ron Burkle, who has been pressuring B&N to improve its stock price.  B&N’s annual meeting will take place in September.

B&N’s Leonard Riggio Buys a Million B&N Shares.

About the Author

David Hancock is reported to be the future of publishing and is the Founder of Morgan James Publishing and The Ethan Awards. David has co-authored ten books including "Guerrilla Marketing for Writers", "The Entrepreneurial Author" and "The Best of Guerrilla Marketing". David also sits on the Advisory Board of the National Center for the Prevention of Community Violence and serves on the Executive Board of Habitat for Humanity Peninsula and Greater Williamsburg.

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