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Monday, September 20, 2010

Barnes & Noble's Fight for Control Moves to Round Two


My 9 September 2010 post, Fight Still on to Control Barnes & Noble , introduced Mr. Ron Burkle, Chairman of the Yucaipa Investment Companies, and told of his attempt to have himself and two associates elected to B&N's board of directors...against the desire of B&N's company Chairman, Leonard Riggio, who fears for his control of the company.

Good stuff, eh?

Tonight we see this fight going into round two.

These details were reported by the Associated Press and carried in Crain's New York Business:

ISS endorses Burkle slate in Barnes & Noble fight

Institutional Shareholders Services Inc. recommended shareholders vote for Mr. Burkle's slate of three—including Mr. Burkle himself—to replace the three directors on the board.

A second proxy firm has weighed in on Barnes & Noble's proxy fight with one of its largest shareholders, billionaire Ron Burkle, this time favoring Mr. Burkle's slate of directors a week before shareholders meet and vote.

Institutional Shareholders Services Inc. said in a report Monday that shareholders should vote for Mr. Burkle's slate of three—including Mr. Burkle himself—to replace the three directors up for election or re-election Sept. 28.

Last week, another proxy advisory firm, Glass Lewis & Co., recommended voting for Barnes & Noble's slate of directors, which includes Chairman Leonard Riggio.

Read more http://alturl.com/wvv73



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