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B. Dalton to Be Sold

November 27, 1986|Associated Press

MINNEAPOLIS — Dayton Hudson Corp. said Wednesday that it agreed to sell its B. Dalton Bookseller unit to a group led by the rival Barnes & Noble Bookstores. Terms were not disclosed, although Dayton Hudson said it expects to record a "substantial gain" on the sale of B. Dalton, one of the largest book chains in the country.

In addition to Barnes & Noble, the group making the proposed purchase includes Leonard Riggio, Barnes & Noble's chief executive, and Venderamerica B.V., a unit of Vendex, a large Dutch retailer that owns a major stake in Barnes & Noble.

Dayton Hudson, the fifth-largest general merchandise retailer in the United States, had announced in late September that it planned to sell B. Dalton.

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