The Anderson family announced on Tuesday evening that it “has withdrawn the previously announced non-binding proposal to acquire all of the outstanding publicly-held shares” of Books-a-Million. They say that “after discussing the proposal with the special committee of the company’s Board of Directors and its advisors, the Anderson family has decided not to pursue the proposed acquisition at this time.” Shortly after the $3.05-a-share offer was made in late April, a raft of investor lawsuits were filed challenging the offer. Investors believed the offer, which provided a 20 percent premium over the share price at the time it was made, […]
