Barnes & Noble Inc
On June 10, the Wall Street Journal reported that Readerlink, another book distributor, was working toward making a bid for Barnes & Noble.
On June 7, Elliott Management announced that it plans to acquire Barnes & Noble (BKS) for~$683 million including debt.
CBS (CBS) Publishing segment, which contributes nearly 7% of its total revenues, generated $228 million in revenues in 3Q17, which was 0.9% higher YoY.
According to PricewaterhouseCoopers, the global book market could grow to $121.1 billion by 2020, up from $114.8 billion in 2016.
Barnes and Noble’s price-to-book value ratio is 0.63. Based on its price movement and PBV ratio, Barnes & Noble is performing well behind its ETFs.
Apple (AAPL) released the iPad Air 2 and iPad Mini 3 a few days ago. The iPad Mini 3 was a disappointment. Except the introduction of Touch ID, there were no changes to its specifications.