Barnes & Noble announced after the close of the market that they completed their acquisition of privately-held Barnes & Noble College Booksellers from Len Riggio. The purchase price was reduced from $596 million to $514 million, “reflect $82 million in cash bonuses paid by College to 192 members of its management team and employees” (not including Riggio.) The original purchase price acknowledged that BN College had about $136 million in cash on hand, making the effective price $460 million, which presumably has not changed materially. The company did say that the refinancing of their lightly-used $1 billion revolving credit facility […]
