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Nov 15 – Nov 21, 2010 Edition Barnes & Noble Shareholders Support Rights Plan
NEW YORK, NY/AUTHORLINK NEWS/November 17, 2010–Barnes & Noble, Inc. (NYSE:BKS) shareholders in a meeting today preliminarily ratified the decision by the Barnes & Noble Board of Directors to adopt the Shareholder Rights Plan. Final results will be announced following certification by the Company’s independent Inspector of Election, IVS Associates, Inc.
The Rights Plan was supported by approximately 72% of shares voting and approximately 61% of shares outstanding.
The Barnes & Noble Board adopted the Rights Plan in November 2009 in response to the rapid accumulation of a significant portion of Barnes & Noble’s outstanding common stock. The Rights Plan is intended to protect the Company and its shareholders from efforts to obtain control of the Company that are inconsistent with the best interests of the Company and its shareholders.
The Barnes & Noble Board stated, “We are very gratified by the overwhelming shareholder support for the Rights Plan, which we believe is a critical protection for Barnes & Noble shareholders.”
Barnes & Noble, Inc. (NYSE:BKS), the world’s largest bookseller and a Fortune 500 company, operates 717 bookstores in 50 states. Barnes & Noble College Booksellers, LLC, a wholly-owned subsidiary of Barnes & Noble, also operates 633 college bookstores serving nearly 4 million students and faculty members at colleges and universities across the United States. Barnes & Noble conducts its online business through Barnes & Noble.com (www.bn.com), one of the Web’s largest e-commerce sites, which also features more than one million titles in its eBookstore (www.bn.com/ebooks).