Bookseller Barnes & Noble hit back at billionaire Ron Burkle’s attempts to wrest control of the company on Wednesday.
The company urged investors to reject Burkle and two of his allies in their bid to get seats on Barnes & Noble’s board of directors. In a letter to shareholders, the company said the billionaire was trying to take over the company without paying a premium for its stock.
“Burkle and his designees have provided no strategic vision and offered no plan for the Company’s future,” the letter reads. “We believe Burkle’s slate, if elected, would work to advance his interests and not the interests of all Barnes & Noble shareholders.”