Barnes & Noble Shares Rocket 14% Premarket After Activist Shareholder Urges Sale

By Ciara Linnane Markets MarketWatch Pulse

Shares of bookstore chain Barnes & Noble Inc. rocketed 14% in premarket trade Tuesday, after an activist shareholder urged the company to sell itself. Sandell Asset Management Corp. said it has built a stake in Barnes & Noble and believes it could attract a bid of more than $12 a share. The stock closed Monday at $7.10. Shares have fallen 36% in 2017, while the S&P 500 has gained 10%.

Continue Reading Below

Copyright © 2017 MarketWatch, Inc.