New York -- Leonard Riggio, founder and chairman of Barnes & Noble, has told the company’s board that he wants to make an offer for its retail business. Riggio is Barnes & Noble’s largest shareholder, owning nearly 30% of the company.
The offer would not include Nook Media, Barnes & Noble’s e-book division.
Barnes & Noble said in a statement that it had formed a special board committee of three directors to consider Riggio’s proposal. There is set timetable for the process.