On Monday Barnes & Noble [BKS] filed another revised prospectus for the upcoming spinoff of Barnes & Noble Education [BNED], telling investors just how much stock they will receive: For every single share of Barnes & Noble Inc. stock owned, investors will 0.632 shares of BNED common stock. Ultimately the stock market will determine what the two entities are “worth” once separated. But based on the current stock price and market capitalization, that implies something like a $640 million market cap for BNED and a $1 billion market cap for BKS (not including the preferred shares). In the filing, however, BN’s […]
