Barnes & Noble Inc. jumped the most in more than a year following a report that Microsoft Corp. is planning to offer $1 billion to buy the Nook Media unit.

The shares surged 21 percent to $21.50 at 10:21 a.m. in New York, after earlier rising 28 percent for the largest intraday gain since April 30, 2012. Microsoft fell 1.1 percent to $32.63.

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