Deals and IPOs

G Asset Management proposes to acquire controlling stake in Barnes & Noble

Pedestrians pass in front of a Barnes and Noble Inc. store in New York, Nov. 24, 2013.
Craig Warga | Bloomberg | Getty Images

Private investment management firm G Asset Management said on Friday it has made a proposal to acquire a 51-percent stake in either Barnes & Noble or in the Nook digital business.

The proposal for Barnes & Noble would be for $22 a share, which would value the chain at $1.32 billion. The current offer is a sweetened version from G Asset Management's proposal in November, which valued the bookstore chain at $20 a share.

Alternatively, G Asset Management has proposed to acquire 51 percent of the Nook segment, valuing the segment at $5 per share.

Barnes & Noble spikes on acquisition proposal

Shares of Barnes & Noble finished up more than 5 percent on heavy volume.

Barnes & Noble did not provide a comment to CNBC, but confirmed that it had received the offer.

In 2012, Microsoft invested $300 million in the Nook unit for a 17.6 percent stake, valuing the division at approximately $1.7 billion. And in late 2012, Pearson took a 5 percent stake in Nook for $89.5 million.

Barnes & Noble is slated to post quarterly earnings next Thursday.

—By CNBC's JeeYeon Park. Follow her on Twitter @JeeYeonParkCNBC