Bookseller Barnes & Noble is evaluating a possible sale after multiple parties, including its executive chairman and founder Leonard Riggio, expressed interest in the move, according to The Wall Street Journal.
A special committee of Barnes & Noble's board will head a strategic review of bids for the embattled company. The board has also adopted a short-term shareholder rights plan.
Barnes & Noble shares soared on the news, up nearly 24 percent before the market's open Oct. 4, according to CNBC.
The announcement comes after the company fired its CEO Demos Parneros without a severance package for an undisclosed violation of company policies in July. The company said Mr. Parneros' termination was "not due to any disagreement with the Company regarding its financial reporting, policies or practices or any potential fraud relating thereto."
More articles on business:
EBay accuses Amazon of merchant poaching
FedEx offering pilots up to $110K not to retire before holiday season
Amazon hourly workers to lose stock options, bonuses after wage hike