Bargain bid for Barnes & Noble

Cable TV pioneer John Malone likes a bargain, and his $17 (£10.47) a share bid for Barnes & Noble is already being slammed for undervaluing the largest US bookstore chain. Shares of Barnes & Noble jumped about 30 per cent to close at $18.33 on Friday as Wall Street analysts argued the company was worth more, pointing to the growing success of the bookseller’s Nook e-reader as an opportunity to be exploited by Malone's Liberty Media.