Apple Purchasing Barnes and Noble?
THERE has been a little commotion recently about if Apple is going to purchase Barnes and Noble or not. It’s unclear what Apple would gain from such a purchase. B&N has more than 700 stores plus another 600 college bookstores, as well as decent digital penetration with its own eBookstore and Nook e-reader. Barnes & Noble is currently trading with a market cap just above $1b, which would be a very small dent in Apple’s $76 billion cash pile, though the price would obviously be higher as a takeover premium.
We’re a little skeptical about the whole thing and mention it primarily to encourage conversation. If Apple really wanted to purchase a bookseller, it could have bought Borders at fire sale prices. Wall Street seems unimpressed by the rumor: Barnes & Noble’s stock price is flat on the day.