Book chain a Burkle buy

Los Angeles billionaire Ron Burkle and his Yucaipa Cos. private-equity firm reported an 8.3% stake in Barnes & Noble Inc., the world’s largest bookseller, and may seek talks with the company.

Burkle intends to monitor Barnes & Noble’s performance and consider the option to discuss strategic opportunities with the company’s board or executives, according to a regulatory filing Friday. The stake makes Burkle, 56, the fourth-largest shareholder of Barnes & Noble, based on data compiled by Bloomberg.

Barnes & Noble lost 56% of its value in 2008. Burkle said in the filing that he acquired his shares of the stock since Nov. 24 because they “were undervalued by the market.” He is the founder of Yucaipa.

U.S. consumers have reduced purchases of books, stationery and magazines amid a recession. For the fiscal year ending in January, Barnes & Noble may report a 2.5% drop in sales, according to the average of analysts’ estimates compiled by Bloomberg.

The company said in November that it was expecting a “terrible” holiday season and would trim discretionary expenditure and future store openings, according to a memo distributed by Barnes & Noble Chairman Leonard Riggio.

The stock rose 32 cents, or 2.1%, to $15.32.