sales and inventory manager barnes and noble salary

Ackman, who would have a 37 percent stake if all warrants are exercised, is known for making big and often noisy bets on undervalued companies.Īckman has targeted other companies in recent months, including Fortune Brands Inc FO.N and JC Penney Co Inc JCP.N. “It doesn’t solve the needs for increased pricing power for these companies, it doesn’t solve the issue of needing to generate additional volumes, and it doesn’t create long-term competitive advantages,” said Wahlstrom.Īckman’s Pershing Square Capital owned about 15 percent of Borders as of Sept. Īnalysts doubted there would be significant antitrust concerns about a deal because of the competition from online retailers and electronic books.īarnes & Noble spokeswoman Mary Ellen Keating declined to comment on the potential bid, which was disclosed in a regulatory filing.īorders confirmed Ackman’s willingness to provide funding for a deal and said it previously expressed to Barnes & Noble an interest in a business combination.Ī deal could help the companies cut the number of their stores, but does not answer more pressing issues, said Morningstar analyst Peter Wahlstrom. Borders’ stock had fallen about 9 percent this year before Monday’s gains. Barnes & Noble’s stock has dropped about 26 percent so far this year. Most Barnes & Noble shareholders would likely hold out for a higher price since the retailer’s stock fell below $16 only in recent months, Souers said.

“While we think this is a reasonable offer, we do not anticipate that Leonard Riggio, (Barnes & Noble’s) founder, chairman and largest shareholder, will find it sufficient,” said Standard & Poor’s Equity Research analyst Michael Souers. Google Inc GOOG.O began selling digital books on Monday. Borders lacks its own e-reader, but Barnes & Noble has been investing in its Nook e-reader to compete with rivals such as Inc AMZN.O and Apple Inc AAPL.O. Both booksellers have struggled with competition from online retailers and electronic books.

Sales and inventory manager barnes and noble salary