Barnes & Noble Inc. /quotes/comstock/13*!bks/quotes/nls/bks (BKS 14.48, -0.50, -3.34%) will soon announce the settlement of a shareholder lawsuit, opening the way for the retailer to be sold, according to a Wall Street Journal report late Wednesday, citing people familiar with the matter. The suit in question involved investor Ron Burkle, who challenged the legal ground of a "poison pill" plan to prevent outside investors from buying more than 20% of the company. The settlement includes the addition of two independent directors to the Barnes & Noble board, along with the addition of a director affiliated with Burkle's investment firm Yucaipa, the report said.
Burkle wins the right to buy as many shares as he wants.....YEHAAAAAWWW. Let the bidding begin.