Pretty shocking news: Borders is putting itself up for sale or may sell divisions. It has suspended its dividend. It is borrowing some $42.5 million from the hedge fund that is its largest shareholder. That fund may buy parts of the company and is being granted warrants for Borders stock that represent about 20% of the company.
Borders has hired J.P. Morgan Securities and Merrill Lynch to explore the sale of the company or of its divisions “for the purpose of maximizing shareholder value.”
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