Reuters: Mergers News: UPDATE 1-Microsoft, Barnes & Noble team up

Reuters: Mergers News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

UPDATE 1-Microsoft, Barnes & Noble team up Apr 30th 2012, 11:23 Mon Apr 30, 2012 7:23am EDT * Microsoft to invest in B&N's digital, college units * Deal values businesses at $1.7 bln * Microsoft will own 17.6 pct of new business * Barnes & Noble shares up 79 pct; Microsoft up 0.7 pct April 30 (Reuters) - Microsoft Corp will invest $300 million in Barnes & Noble Inc's digital and college businesses, valuing them at $1.7 billion. Shares of Barnes & Noble jumped 79 percent. Microsoft will get a 17.6 percent stake in the new unit, while Barnes & Noble will own about 82.4 percent, the companies said in a statement on Monday. The business, whose name has not yet been decided, will have an ongoing relationship with Barnes & Noble's retail stores. Barnes & Noble, the No. 1 U.S. bookstore chain, said in January that it might spin off its digital business, which includes its Nook e-reader. The companies will introduce an application for the Nook on Windows 8, t he upcoming version of Microsoft's operating system. Barnes & Noble is investing heavily to develop its popular Nook devices and the e-books sales they generate as readers move away from traditional books. Barnes & Noble and Microsoft have settled their patent litigation, the companies said. Shares of Barnes & Noble were up 79 percent at $24.50 in premarket trading. The company was valued at just above $823 million at Friday's close. Microsoft shares rose 0.7 percent to $32.19. Link this Share this Digg this Email Reprints

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