Proxy advisory firm Egan-Jones has recommended general support of management in the Barnes & Noble battle. They say “we have not seen a convincing strategy put forward by Yucaipa which would…put the company on a materially different pathleading to increased shareholder value.” And they are concerned about the angle raised by BN itself–that Yucaipa and Aletheia will be able to take control jointly if the poison pill is amended. (These proxy firms don’t seem imagine enough to entertain the prospect that the best way to fetch a good buyout price for BN shares is to pique chairman Len Riggio’s competiveness […]
