Getting your player ready...
NEW YORK — Bookseller Barnes & Noble, after fending off a challenge to its chairman, can now focus on a turnaround and a sale.
An early tally showed about 44 percent of the shares voted for a slate of board candidates backed by Barnes & Noble, while 38 percent voted for candidates named by investor Ron Burkle’s Yucaipa Cos. Shareholders also rejected a proposal by Yucaipa to remove a poison-pill plan aimed at limiting Burkle’s holdings to less than 20 percent.
The results came after months of bitter public fighting between the two sides, with accusations of greed and incompetence. The New York Times
