Barnes & Noble has been fighting a hostile takeover bid mounted by Ron Burkle back around the end of 2009. I posted on this intrigue and it’s background twice before (Fight Still on to Control Barnes & Noble and Barnes & Noble’s Fight for Control Moves to Round Two).
Well, the poison pill defense (more details below) put forth by B&N to prevent the takeover was successful in the Delaware lower courts…Mr. Burkle then appealed to the Delaware Supreme Court…and this court has just come down on the side of B&N, also…
Poof! Looks like goodbye to the hostile takeover. I wonder if Ron Burkle has any options left to gain control of our largest ‘brick-and-mortar’ bookseller?
Besides wanting to post on this seemingly final decision RE this matter, I also wanted to explain a bit of just what a “poison pill” defense is.
This from Publishers Weekly:
Court Rejects Burkle Appeal