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Barnes & Noble stock soars 16% after Schottenfeld fund increases stake, discusses acquisition potential

Shares of Barnes & Noble Inc. BKS, +16.48% are up 15.9% in Friday morning buying and selling after investor Richard Schottenfeld disclosed in a submitting that he had higher his stake within the corporate to six.9%, from five.7% previous this summer. He has amassed the stake thru various finances, including the Schottenfeld Opportunities Fund II. The submitting stated that Schottenfeld intends to proceed to have interaction in management discussions including "changes in company leadership at the executive and board level, implementation of operational improvements, and the desirability of selling the company." Schottenfeld believes that "there will be additional and broadening interest from potential acquirers." Barnes & Noble shares have fallen 26% over the past 12 months, while the S&P 500 SPX, +zero.09% has risen 17%.

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