Barnes & Noble shares rocket on Microsoft takeover rumours

(Source: Reuters)

The US' largest book retailer, Barnes & Noble, has seen its stock up 32 per cent in premarket trading after TechCrunch reported that Microsoft is planning to enlarge its 17 per cent stake in the company's Nook Media unit.

Microsoft is offering to pay $1 billion to buy the digital assets of Nook Media LLC, the digital book and college book joint venture with Barnes & Noble and other investors, according to internal documents we’ve obtained.

(TechCrunch)

TechCrunch also reported that Nook will stop selling Android-based tablets entirely by the end of the 2014 fiscal year.