Books-A-Million's board of directors has appointed a special committee of independent directors to evaluate the offer made January 29 by executive chairman Clyde B. Anderson and his family to buy the 41.8% of BAM that they don't own for $2.75 a share.
The special committee, which consists of chair Edward W. Wilhelm and Ronald J. Domanico, have hired King & Spalding as legal counsel and will soon hire financial advisers. Wilhelm is executive v-p and CFO of the Finish Line, Inc., and worked for Borders Group from 1994 to 2009, ending as executive v-p and CFO. He joined the BAM board in 2013. Domanico is retired senior v-p and CFO of HD Supply and was appointed to the board last November.
When the Anderson family tried to buy the company in 2012, the special committee also hired King & Spalding as legal counsel.