Books-A-Million, Inc. (NASDAQ:BAMM) On January 29, 2015, Books-A-Million, Inc. announced the receipt of a non-binding proposal from Clyde B. Anderson, Executive Chairman of the Company, on behalf of the Anderson family, to acquire certain outstanding shares of the common stock of Books-A-Million, Inc., at a cash purchase price of $2.75 per share.
In the proposed potential transaction, the Anderson family would acquire all of the outstanding shares of common stock of the Company not currently owned by the Anderson family through a merger of the Company with a newly formed acquisition vehicle that the Anderson family would control. The Company intends to promptly review the proposal.
A copy of Mr. Anderson's letter to the Board is attached as exhibit number 99.18 to Amendment No. 16 to the Anderson family's Schedule 13D/A, which was filed with the Securities and Exchange Commission ("SEC") today. This Amendment is available at no charge on the website at www.sec.gov.
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