Burkle doesn't want control of Barnes & Noble

But the L.A. billionaire says that the book retailer's management has engaged in a smear campaign concerning his upcoming proxy battle. Burkle, through his Yucaipa investment firm, sent a letter to shareholders today in which he claims that the company is distorting the reasons for his wanting three seats on the board. He also denies working with an L.A. investment firm, Aletheia Reserch and Management, in trying to to "steal" the company.

Ask yourself, why would this board characterize our legitimate exercise of rights granted to every stockholder under the company's own bylaws as somehow a "threat" to the company? In fact, in a March meeting with two of Barnes & Noble's directors, Yucaipa offered to sign a standstill agreement if its request to equalize its share ownership with that of the Riggios was approved. Why would we make that offer if we were seeking to obtain control? The answer is, we aren't.

Here's the letter and here's the item from DealBook.