Ronald W. Burkle

Barnes & Noble (NYSE:BKS) may have just edged a bit closer to a takeover by its largest rival Borders (NYSE:BGP). Bill Ackman, the head of Pershing Square Capital Management and Borders' largest shareholder, has offered to help finance a potential purchase of Barnes and Noble for $16 a share, or about $900 million, according to a filing with the Securities & Exchange Commission.  The bid reflects a 20% premium to Barnes & Noble’s closing price on Friday. Ackman currently owns about 36.5 million Borders shares, or 37.3% of the company,