Entries tagged "Borders"
As Black Friday approaches, retailers are scrambling to meet business plans, especially with activist investors clamoring for changes. According to CNBC projected forecasts vary from the National Retail Federation's estimated 2.2% year-over-year sales gain to Global Hunter Securities' 6% to 8% decline. But some retailers are getting slammed harder than others, and activist investors on their boards will most likely have something to say about it. ...
Borders Group Inc. is telling activist investor Pershing Square Capital Management LP's William Ackman to sign on the dotted line. Borders is issuing warrants for Pershing Square, which owns 29% of Borders, to own up to an agreement signed in April, according to a Reuters report. The agreement was that if the bookstore did not find a buyer by a prearranged deadline, Pershing would buy an additional 5.15 million shares of common stock on Oct. 1. ...
It's been a tough 12 months for the sponsor groups at Wall Street's biggest firms. For the last few years, the investment bankers in those groups were riding high on a wave of megaprivate equity deals. Then came the credit crunch and a clogged pipeline. Today, buyout volume is way down, but the survivors are beginning to emerge from the rubble -- and rubble there is -- to a new day. ...
Struggling bookseller Borders Group Inc. announced Tuesday it has started laying off 20% of its corporate staff, including 156 at its headquarters in Ann Arbor, Mich., and 118 people elsewhere, as it looks to slice $60 million in expenses this year and $120 million annually beginning in 2009. ...
Headline-grabbing activist William Ackman of hedge fund Pershing Square Capital Management LP may stand to grab more than just headlines if a Barnes & Noble Inc. acquisition of Borders Group Inc. were to materialize. ...
