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Barnes & Noble, Inc. Message Board

  • foggysail foggysail Jun 1, 1999 10:26 PM Flag

    Why Bertelsman?

    Has anybody given thought to why B&N teamed with
    Bertelsman? Yes, they got 200 million but they gave up 41% of
    BNBN! Consider that the IPO was offered at 18 and the
    total $$$ the offering brought in was about $450
    million of which B&N received half after broker fees. I
    don't have all the details but from where I sit, it
    looks like another f--- up by our senior management
    folks at B&N.


    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Getting an ally such as Bertelsmann was
      worth giving up 41%.
      Bertelsmann brings in much more than these $200Mil.
      This time nothing to complain about.

      • 2 Replies to Tealc_SG1
      • Thanks for expressing your thoughts. But I am
        still unconvinced this was a good deal for B&N. Beyond
        the actual monetary exchange that turns out to be a
        wash-- ie. sale of 1/2 BNBN to Bertelsmann verses
        returns at the IPO, there is the added complexity of
        making management decisions when the company has shared

        We won't see any of my fears realized here in the
        short term, but watch--- 1-2 years down the road I
        expect problems.


      • I cannot believe some investors believe BKS is
        overvalued in today's market! This company makes money.
        Management is incompetant, but that's a different story.
        Isn't it interesting that they waited to publicize the
        Ingram Update? These guys are only looking out for
        themselves. Unfortunately, I still hold 400 shares down
        >30%. The way this one is going, we may never see $30
        again... At least Amazon uses smoke and mirrors to peak
        investor interest. These guys sell @ $39 and say
        absolutely nothing...

    • I think Bertelsman sees as a distribution
      channel they can dictate to. They have a lot of media
      properties and is a hot, fast-growing retail channel.
      B&N's reason for the deal was probably the same as
      Bertelsman's; vertical integration, i.e. the same reason they
      wanted to buy Ingram.

      • 1 Reply to harkabeeparolyn
      • It is easy to understand why Bertelsman wanted to
        team with B&S. The question I raised earlier was why
        did B&N want to share BNBN with Bertelsman or for
        that matter, any other company? Remember, B&N was
        going to launch this thing last September ALONE. Why
        the change, why did they believe that merging with
        another company was in their best interest? A merger with
        Bertelsman meant ZERO cash benefits to B&N but will have
        numerous management problems when two separate companies
        try to ride one horse.


    • ToasterOvenFryingPanKitchenSink ToasterOvenFryingPanKitchenSink Jun 2, 1999 11:09 AM Flag

      Nuclear Meltdown of this stock and BNBN; should change their name to

    • Let's buy BKS. Let's make it. We cannot give up easily.

      BKS = MSFT in book selling.

    • You are almost as weak as BKS management.

      Quit your whining and sell this loser or INVEST your money wisely.

    • How about Burn in

    • Remember the day options expired?
      34 7/8!!!???

    • NOT Amazon. Amazon paid the Oregon Senator to
      raise a stink and got the independents to provide cover
      - but its the independents that should feel a
      greater threat from AMAZON than even BKS. But in the end
      as the press release states, BKS and Ingram will
      continue to work closely, and Ingram has every right to
      allocate more bestsellers to BKS than they do to their
      enemy Amazon. Speaking of which, isn't Amazon by trying
      to become more of a portal competing with Yahoo and
      AOL? Another pepsi/kentucky fried chicken/taco bell
      situation where all flock to the company that isn't
      directly competing but complementing? Perhaps this is why
      BKS is getting more relationships with Portals.

      Interesting, seems all the "market savy" press seemed to feel
      Brick and
      Motar was a thing of the past, that Amazon
      was kicking the pants off of
      BKS. So BKS attempts
      to strengthen its competitive position
      AMZN buy purchasing Ingram, but all of a sudden BKS
      isn't the falling
      force that many portray and the
      Ingram deal is viewed

      Question, why didn't those that were dismissing BKS' role
      in the future
      question AMZN and the FTC when they
      stated that BKS was to dominant a
      force to be allowed
      to own a major distributor? Well AMZN
      got their monies worth out of that Oregon Senator.

    • without restrictions on selling terms, you should be so thankful that you will never lawsuit.

      Rise BKS! Rise BNBN. The king of the jungle!

    • s! The moment of glory is just coming here. Let's join and rejoyce. Come on, come on, we can make it now. We need you! You are so precious!

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