Barnes & Noble (NYSE:BKS) stock was on the rise Friday following news of a potential takeover.

News of a possible takeover of Barnes & Noble comes from investor Richard Schottenfeld. A filing with the U.S. Securities and Exchange Commission (SEC) mentions he talked with founder and Chairman Leonard Riggio about a sale of the company.

Schottenfeld is in favor of Barnes & Noble considering any possible sale opportunities that come around. He also notes that he would like to see the company fill out executive positions with people willing to turn the company around.

Schottenfeld’s desire for Barnes & Noble to consider a sale and work toward a turnaround wasn’t the only thing revealed in the filing with the SEC. It also points out that the investor increased his stake in the company from 5.7% to 6.9%, reports Reuters.

News of the larger stake and talk of a possible sale gave BKS stock a much needed boost on Friday. The company’s stock was up roughly 10% as of noon Friday. This erases the 4% fall that the stock went through on Thursday.

The blow to BKS stock yesterday came after it released its earnings report for its fiscal first quarter of 2019. Barnes & Noble reported losses per share of 23 cents on revenue of $794.78 million. Losses per share and revenue from the same time last year were 15 cents and $853.32 million. Unfortunately for it, Wall Street was looking for losses per share of 9 cents on revenue of $833.40 million for its fiscal first quarter of 2019.

As of this writing, William White did not hold a position in any of the aforementioned securities.