Barnes & Noble Board Mulls Sale

Since Amazon introduced the $139 Kindle, we’ve been expecting a price drop on the Nook. Instead, Barnes & Noble’s board of directors said today that they are considering selling the company.

GalleyCat reports: “Founder Leonard Riggio has expressed interest in assembling a group of investors to buy the bookseller. The board was disappointed in what they saw as the company’s ‘significantly undervalued’ stock, and nominated a special committee for ‘evaluating strategic alternatives.’”

GalleyCat also pointed out that the rumor of sale made stock prices go up. From GC: “The NY Times noted a spike in the company’s stock after the announcement: ‘Shares of Barnes & Noble jumped as much as 27 percent in after-hours trading on Tuesday, rising $3.51, to $16.35.’”

The company announced earlier today that their 2011 fiscal earnings call will be held on Tuesday, August 24th.

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