While foot traffic and sales may be down to the two dominant national booksellers in America, they've had little trouble attracting investor activity according to a report in The Financial Times. California billionaire Ron Burkle and his Yucaipa now has a 19% stake in Barnes and Noble while another California fund, Aletheia headed up by Peter Eichler has a 15% stake.
Rival borders has seen Pershing Square and Bill Ackman hold a 34% controlling stake for more than a year, culminating a series of investments beginning in 2006.
Burkle wants to own more of B&N, and intends to challenge management if successful. In addition to the explosion of eBooks, both chains face competition not just from Amazon's mail order sales but also from bestseller sales from Target, Walmart and other chains.
DISCLAIMER: I've recently held a small position in Borders and currently own an equally small amount of shares in Barnes and Noble.
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