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Borders Group’s biggest shareholder, offers to finance a $960 million takeover bid for its larger rival, Barnes & Noble Monday, 6th December 2010
The hedge fund managed by William A. Ackman, the Borders Group’s biggest shareholder, has offered to finance a $960 million takeover bid for its larger rival, Barnes & Noble, according to a regulatory filing on Monday.In the filing, Mr. Ackman’s Pershing Square Capital Management said that it would finance an all-cash bid of $16 a share, a 20 percent premium to Barnes & Noble’s closing stock price on Friday. See more on New York Times
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Posted in Uncategorized Tagged barnes & noble, Books, bookstores, borders group, cash-bid, News, Retail, shopper, takeover
