Books-A-Million's Stock Draws Little Interest Despite Buyout Deal

By Tomi KilgoreMarketWatch Pulse

The trading halt in Books-A-Million Inc. , following a buyout deal late Monday, has been lifted for nearly 90 minutes, but there has still been no premarket activity in the bookseller's stock. The company announced after Monday's close a deal to be acquired by an entity owned by the Anderson Family, including Executive Chairman Clyde B. Anderson, for $21 million, or $3.25 a share in cash. The per-share bid is 23% above Monday's closing price, but the only premarket interest in the stock is a relatively small bid to buy at $2.65, which is just a penny above Monday's close. The stock was halted from 7:24 p.m. Eastern to 7:10 a.m.

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