Barnes & Noble shares skyrocket over Microsoft Nook bid report
May 10 , 2013
Shares in Barnes & Noble were up 22 percent on Thursday following unconfirmed reports that tech giant Microsoft may acquire its tablet and e-book business.
According to technology website TechCrunch, Microsoft, which already owns a 17 percent stake in Nook Media, is mulling over a $1 billion offer to buy all of Nook's digital assets.
However, the TechCrunch report did not clarify whether Microsoft had formally made an offer to B&N or whether B&N had replied to the offer.
Both B&N and Microsoft are yet to comment on the reports.
B&N shares rose to $21.70 in afternoon trading. The last time the stock hit those levels was when Microsoft acquired its stake in Nook Media just over a year ago.