Microsoft will invest $300 million in Barnes & Noble's Nook division, taking a 17.6 percent stake in the e-book business as the companies join forces to compete with market leader Amazon. Also, pipeline operator Energy Transfer Partners will acquire oil transportation and distribution company Sunoco in a $5.3 billion deal.
May 03, 2012 at 12:00 AM
1 minute read
Microsoft will invest $300 million in Barnes & Noble’s Nook division, taking a 17.6 percent stake in the e-book business as the companies join forces to compete with market leader Amazon.
The deal, which brings together Barnes & Noble’s digital and college businesses in a new, yet-to-be-named subsidiary, values the Nook division at $1.7 billion. This is more than the unit’s parent company has been worth since mid-2008, according to The New York Times.
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