Barnes & Noble Inc. (BKS 16.08, +3.24, +25.23%) said late Tuesday its board will consider strategic alternatives, including a possible sale of the company, in a bid to boost stockholder value. "The board came to this decision based on the price of Barnes & Noble shares in the marketplace, which the board believes are now significantly undervalued," said the bookseller in a statement. Shares of Barnes & Noble fell 7.1% to close at $12.84.
Barnes & Noble has retained Lazard to serve as its financial advisor.
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