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  • generalgrowth44 generalgrowth44 Dec 6, 2010 9:49 AM Flag

    Ackman offers to finance Barnes noble buyout

    Ackman is desperate to find a way out of the Borders book store disastrous investment

    Borders has been one of his worst messes


    BUSINESSDECEMBER 6, 2010, 7:23 A.M. ET
    Ackman Offers to Finance Borders Buyout of Barnes & Noble
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    BY MATT JARZEMSKY

    Activist hedge-fund manager Bill Ackman reported a 37% stake in Borders Group Inc., up from 31% as of May, and said he would be prepared to finance the bookseller's purchase of larger rival Barnes & Noble for about $900 million.

    The proposed $16-a-share offer for Barnes & Noble compares with the book chain's $13.28 ...

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