Barnes & Noble says it weighs public takeover bids

The troubled bookstore chain Barnes & Noble (BKS) revealed on Wednesday that it was forming a special committee to review the "expressions of interest of several parties at an offer of". 39 "acquisition of the company" – including an offer from the current chairman of the board, Leonard Riggio.

"The board of directors has appointed a special committee of independent directors (…) to lead the strategic review process," BKS said in a statement issued after the market closed. "The Special Committee will be advised by independent legal and financial advisers, and Mr. Riggio is committed to supporting and voting his shares in favor of any transaction recommended by the Special Committee."

BKS shares jumped 24.5% after the news to $ 6.80. The stock, which fell 1.6% to $ 5.46 earlier in the day during regular trading, lost more than 82% of the $ 30.78 intraday peak hit in April 2006.

Barnes & Noble also announced the adoption of a so-called "poison pill" to thwart hostile takeover bids. Under this plan, shareholders will have the right to buy preferred shares at a discount of 50% if someone acquires 20% of the company and initiates an unsolicited public takeover bid for more actions.

BKS has stumbled in recent years as more and more consumers move from physical books to ebooks and reading online.

(This article has been updated with the stock price of the company.)