Reuters: Technology News: Riggio suspends plan to make offer for Barnes & Noble stores

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Riggio suspends plan to make offer for Barnes & Noble stores Aug 20th 2013, 13:03 Tweet Share this Email Print Analysis & Opinion Business judgment rule OK'd in another controlling shareholder deal Customers enter a Barnes and Noble store in New York June 25, 2013. Credit: Reuters/Brendan McDermid Tue Aug 20, 2013 8:43am EDT (Reuters) - Barnes & Noble Inc's chairman, founder and top shareholder Leonard Riggio said on Tuesday he has suspended his efforts to make an offer for the company's retail business. "While I reserve the right to pursue an offer in the future, I believe it is in the company's best interests to focus on the business at hand," Riggio said in a statement filed with the U.S. Securities and Exchange Commission. "Right now our priority should be to serve the more than 10 million customers who own NOOK devices, to concentrate on building our Retail business, and to accelerate the sale of NOOK products in our stores, and in the marketplace." (Reporting by Jessica Wohl in Chicago; Editing by Gerald E. McCormick) Tweet this Link this Share this Digg this Email Reprints We welcome comments that advance the story through relevant opinion, anecdotes, links and data. If you see a comment that you believe is irrelevant or inappropriate, you can flag it to our editors by using the report abuse links. Views expressed in the comments do not represent those of Reuters. For more information on our comment policy, see http://blogs.reuters.com/fulldisclosure/2010/09/27/toward-a-more-thoughtful-conversation-on-stories/ Comments (0) Be the first to comment on reuters.com. Add yours using the box above.

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