Barnes and Noble Warns Shareholders of Burkle

In a letter to shareholders, bookseller Barnes & Noble (NYSE:BKS) warned that its second largest shareholder, Ronald Burkle, could ruin the company with takeover plans, according to reports.

In the eight-page letter, Barnes and Noble warned that Burkle, along with a second investor, Aletheia Research & Management, could join forces to “steal” the company, given the history the two have of investing together.

In response to the letter issued by Barnes & Noble, Yucaipa, Burkle’s investment division, stated that the bookseller was engaged in a “thinly veiled effort” to deflect criticism of the Barnes and Noble board.