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News Summary: B&N chair could buy bookstores

The Associated Press

BOOK BOSS BUYOUT Barnes & Noble founder and Chairman Leonard Riggio said Monday that he is going to try to buy the company's retail business.

CONTENTS: Riggio wants to acquire the company's stores and website, but not the business that makes the Nook e-reader or the company's college bookstores. No price was disclosed. Riggio already has a 30 percent stake in the company and is its largest shareholder.

NEXT CHAPTER: Barnes & Noble said the offer will be considered by a committee of three independent directors. But there is no set timetable for the process.