Shares of book store chain Barnes & Noble Inc. surged 16% Thursday, after the Wall Street Journal said an investor is proposing to take the company private at more than $9 a share. Sandell Asset Management Corp. has proposed a deal worth about $750 million, including debt, that would require $500 million in debt financing, the paper said. The remaining $250 million would come from current shareholders, who would roll their stakes over into a new private entity. Chairman Leonard Riggio would not agree to the deal, the paper said, citing a person familiar with the situation. Riggio holds a roughly 18% stake in the company. Shares were last up 16% after resuming trade following a halt. The stock has fallen 31% in 2017, while the S&P 500 has gained about 15%.
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