Back in September, billionaire Ron Burkle lost his proxy war with Barnes & Noble's board, failing to kill the poison pill that kept him from upping his stake in the company. That made Wednesday's shareholders meeting all but a formality. But what's next for the nation's largest bookseller?
After losing in court, renegade investor Ron Burkle is poised to launch a proxy contest for Barnes & Noble that will be tinged by animosity between Burkle and B&N founder and chairman Leonard Riggio.
Billionaire Ron Burkle is taking his battle with Barnes & Noble's board of directors to court. The Yucaipa Cos. founder is suing the bookseller in an attempt to derail the "poison pill" measure it adopted last year to prevent him from completing a hostile takeover.
Billionaire Ron Burkle is still fighting B&N's rejection of his bid to increase his holdings late last year, complaining in a letter to the board that it is trying to protect the financial interests of chairman Leonard Riggio and CEO Steve Riggio.
Borders Group CEO Ron Marshall is leaving the company to become CEO of the supermarket chain A&P. Marshall is leaving Borders after less than a year at the bookseller, which just posted poor holiday earnings and is facing substantial layoffs.