Barnes & Noble Up Sharply On Bid Proposal (BKS)

Shares of Barnes & Noble BKS are up 15% this morning after news came out this morning that Bill Ackman, of Pershing Square would be filling to finance a bid through Borders BGP to take over Barnes & Noble. Ackman would offer $16 per share in cash for BKS, which is a 20% premium to Friday's closing price. At last check, shares of BKS are up $2.06 to $15.34, a gain of 15.5%.