U.S. Markets close in 2 hrs 15 mins

Barnes & Noble Jumps on Report It Could Receive Superior Bid From Readerlink

Tony Owusu

were up more than 0.7% to $6.85 Tuesday on a report that the book retailer was set to receive a superior bid from book distributor Readerlink just days after hedge fund Elliott Management agreed to pay up to $683 million, including debt, for the company. The Wall Street Journal reported that Readerlink was looking to top the $6.50 per share that Elliott Management agreed to pay for the company. Barnes & Noble shares were trading above $7 per share on Tuesday.