The travel giant will pay $103 per share for the restaurant-reservation site -- a massive premium over its closing price of $70.43 on Thursday.
The e-book reader's second price cut in the past year may be a precursor to a product refresh this fall.
Barnes & Noble is ceding the tablet market to larger, deeper-pocketed competitors and focusing on its digital book business. But that means going up against Amazon in a tough mano-a-mano fight.
In a Mother's Day sale, you can pick up the Nook HD and Nook HD+ for as low as $149 and $179, respectively.
From March 24 through 30, Barnes & Noble will throw in a free Nook Simple Touch when you buy its larger HD+ tablet.
Revenue in Barnes & Noble's Nook division hit $316 million, down 26 percent compared to the prior year, as the unit's losses balloon to $190.4 million.
The bookseller won't abandon its line of e-readers and tablets, but will license content to third-party device makers, sources tell The New York Times.
Apple wraps up its fiscal year with mixed fourth-quarter results. The company exceeds Wall Street's expectations on revenue, but misses on profits and iPad sales.
The Wall Street Journal, citing the chief executive of Barnes & Noble's retail group, reports the company will be closing about 20 stores a year for the next 10 years as it grapples with consumers' move to digital books.
The Black Friday weekend had given Barnes & Noble cause for optimism, but the company says the holiday stretch as a whole saw Nook device sales fall short of expectations.