Bloomberg – Jana Partners LLC, Barry Rosenstein’s hedge fund that’s known for pushing for change in the companies it invests in, saw the value of its stake in Barnes & Noble Inc. surge 52 percent today after Microsoft Corp. said it will invest $300 million in a new unit with the bookseller.
The bookstore chain rose to $20.75 today in New York trading. Jana Partners said it owned 6.9 million shares in New York-based Barnes & Noble as of April 11, according to a regulatory filing. Today’s increase represents a gain of $49.2 million for the firm from the closing price on April 27.
