Burkle funds distributing some Barnes & Noble stock

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(Global Markets) - Shares of bookseller Barnes & Noble Inc (BKS.N) fell as much as 12 percent on Thursday after its second-largest shareholder, billionaire investor Ron Burkle's Yucaipa Cos, said two of its funds were distributing some shares of the stock.

In a filing with the U.S. Securities and Exchange Commission, Yucaipa, which has more than 19 percent of the stock, said that two of its funds would distribute shares of the stock.

The filing did not say how many shares were involved or to whom they were being distributed. A Yucaipa spokesman could not be reached for comment.

A Barnes & Noble spokeswoman declined to comment on the filing.

A source close to Yucaipa said that the funds were distributing some shares to investors in the funds. The source did not say who the recipients were or how many shares were involved.

The move comes barely two weeks after Barnes & Noble reached an agreement under which Microsoft Corp (MSFT.O) would invest $605 million over five years in the bookseller's Nook e-reader and college textbook business.

The April 30 deal sent Barnes & Noble shares up 52 percent in one day to $20.75, a big boost to Burkle's stake.

Barnes & Noble shares closed down $1.61 at $16.75 on Thursday, after falling as low as $16.10 earlier.

(Reporting by Brad Dorfman; Editing by Leslie Adler and Carol Bishopric)