Why Barnes & Noble, Inc.'s Shares Popped 19% Today

Shares of book retailer Barnes & Noble, Inc. (NYSE: BKS) jumped as much as 18.9% in trading midday Thursday, after The Wall Street Journal reported the company might be taken private. Some of the excitement died down later in the day, and at 2:50 p.m. EST shares were only up 9.1% on the day.

Reports are that Sandell Asset Management has proposed taking Barnes & Noble private for about $750 million, including debt. If true, the buyout could take place at about $9 per share, a significant premium from yesterday's closing price of $6.60.

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Source: Fool.com