From The Wall Street Journal:
When Barnes & Noble Inc.’s former chief executive sued the company in August over his dismissal, a tantalizing detail stood out in his complaint.
The struggling book retailer was on the verge of selling itself this past spring, he said, and had even accepted an offer. For months, people in the publishing industry wondered about the identity of the mystery would-be buyer.
People familiar with the situation say it was WH Smith PLC, a U.K. retailer that sells books, stationery and other products.
. . . .
Mr. Parneros’s employment contract with Barnes & Noble contains a change-of-control clause; he would have benefited financially from a sale of the company.
Merging with a foreign book chain could have transformed Barnes & Noble. The company has never built stores overseas, preferring instead to expand its chain in the U.S. Today it operates 629 stores in all 50 states.
Link to the rest at The Wall Street Journal and thanks to Dave for the tip.
We’ll see if any court documents later on substantiate this. Unless it’s settled out of court.