Entries tagged "Borders Group"
Bookstore chain Borders Group Inc. culminated a rough 2008 with an announcement Monday that it hired a new CEO following a sales drop of 14.4% during the holiday season compared to the same period in 2007. The numbers likely prompted the executive change, but the move may be too little too late. With the economy reeling and discretionary income low, many speculate the next move for Borders maybe a Chapter 11 filing. ...
The markets broke out of its three-day funk with the bulls charging forward on a megadeal from Verizon Wireless and restructuring from Continental Airlines Inc. Meanwhile, a better-than-expected jobless claims number gave some investors another reason to smile on Thursday. Overall, the Dow finished up 213.97, or 1.7%, to 12,604.75, and the Nasdaq closed up 46.80, or 1.87%, to 2,549.94. Here's a closer look at performance of stocks involved in deals that impacted Thursday's markets:...
Activist investor Pershing Square Capital Management LP has agreed to buy Borders Group Inc.'s international units, but that deal may be far from done. The insurgent revised Monday its financing agreement with Borders in a deal that is more favorable to the bookseller. In it, Pershing Square will pay $135 million for the bookstore's international chain, up from $125 million. The revised deal also includes a lower interest rate of 9.8% on a $42.5 million senior secured term loan offered by the activist fund. ...
