Barnes & Noble investors reacted with pure unadulterated joy to the possibility that Microsoft is considering entering the e-book market and will acquire the company’s Nook unit for a whopping $1 billion. Shares rose by a dizzying 24 percent on Thursday, when the rumor surfaced. By the close of Friday trading, shares were up another 5.6 percent, at $23.31. The Nook is viewed as an underfunded underdog in the fight against Amazon’s Kindle, and to have Microsoft swoop in to save the day is almost a deus ex machina.
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B&N Investors Salivate Over Microsoft Nook Deal
Posted by: Erika Morphy May 10, 2013 01:13 PMBarnes & Noble investors reacted with pure unadulterated joy to the possibility that Microsoft is considering entering the e-book market and will acquire the company’s Nook unit for a whopping $1 billion. Shares rose by a dizzying 24 percent on Thursday, when the rumor surfaced. By the close of Friday trading, shares were up another 5.6 percent, at $23.31. The Nook is viewed as an underfunded underdog in the fight against Amazon’s Kindle, and to have Microsoft swoop in to save the day is almost a deus ex machina.