Dive Summary:

• Barnes & Noble founder and chairman Leonardo Riggio plans to purchase the company's retail business.
• A strategic committee of three independent directors--David G. Golden, David A. Wilson and Patricia L. Higgins--will oversee the evaluation of the proposal and negotiation of any transaction.
• The company said there is no certainty that Riggio's proposal will result in the sale of the retail business or any other transaction.

From the article:

NEW YORK — Barnes & Noble founder and chairman, Leonard Riggio, has notified the company's board of directors of his intentions to purchase the company's retail business. ...