What do you folks think B&N's strategy is:Wait and see if the news drives the pps over $1orBuy as many shares as they can cheaply?Could they have gotten away with quietly buying up shares without announcing this move?Since BKS's money is being used, it is only fair and up front (to BKS stock holders) to announce the move. But I think you are right, they could have bought more cheaply without the announcement.Your question is the answer. They did it probably for both reasons. To make an investment AND to boost the price. At face value, this seems to be a move that will help BNBN in the short term and will help BKS in the long-term. I saw one story were the author thought that BKS was buying the shares so they would maintain controlling interest if BERT converts. That seems a little silly -- if the price is low, BERT would not be tempted to convert IMO. Or maybe Albaby is right, and this a precursor to a buyout. But that seems unlikely to. They probably could have gotten the shares cheaper in the long run by making an offer.I still think that with CEOs being called into account for their lies, that the face value of this thing is the truth. They think BNBN is undervalued (it is) and they want the investment (they do). Of course the side effect is a better stock price (good for BNBN). Sounds like a good decision on all fronts, IMHO.Doc
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