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Barnes & Noble’s $13.9 million purchase of Borders’ intellectual property assets is on hold after a federal judge said he needed more time to consider privacy issues related to the bankrupt bookseller’s customer list.
The delay clouds the transfer of Borders’ customer list which contains information about some 48 million names according to court filings. Barnes & Noble (NYSE: BKS) acquired the list and other intellectual assets such as trademarks in an auction last week.
According to Reuters, a lawyer for Barnes & Noble told Judge Martin Glenn that the company very much wants to purchase the assets but fears the deal could fall apart. The judge reportedly told the parties that, if he allows the sale to take place on terms agreeable to Barnes & Noble, state and federal regulators might step in with their own privacy enforcement actions.