July 7, 2000 |
Borders Group Inc. said it ended talks to sell the company and will explore other ways to boost its shares, such as buying back stock. The book retailer didn't name the groups it had held talks with. Buyout firms Bain Capital, Apollo Management and Blackstone Group were considering bids, people familiar with the proposed sale said last month. Borders hired Merrill Lynch & Co. in March to help boost its stock, which had fallen from a peak of $41.75 in July 1998.
April 13, 1999 |
Borders Group Inc., the No. 2 U.S. bookseller, plans to concentrate on opening retail stores to boost sales rather than focusing on its Internet business to compete with more successful online booksellers, its vice chairman said. Borders, which operates about 1,200 Borders, Waldenbooks and Brentanos stores, plans to add about 45 U.S. superstores this year, bringing its total to 290.
April 9, 2001 |
Arguments are set to begin in federal court today in a case pitting Barnes & Noble Inc. and Borders Group Inc. against independent booksellers who assert the chains receive illegal preferential treatment from publishers for secret deals and steep discounts. The trial will be heard by U.S. District Judge William Orrick Jr. in San Francisco rather than a jury.
June 20, 1995 |
Book retailer Borders Group Inc. said Monday that it is cooperating with a Justice Department antitrust inquiry into the closure of mall bookstores by its Waldenbooks chain. Rick Vanzura, Borders' vice president of group planning and resource management, said the Justice Department has sought information on whether the company has held any talks about mall closures with its archrival, B. Dalton Bookseller, a unit of Barnes & Noble Inc.
October 2, 2008 |
Borders Group Inc. issued 5.15 million warrants to Pershing Square Capital Management because the chain couldn't find a buyer by Wednesday's deadline. The warrants give Pershing the right to purchase stock at $7 a share, Borders said. Pershing, led by William Ackman, controls more than a third of the company and has stakes in several large retailers, including Target Corp. and Sears Holdings Corp. Borders borrowed $42.
May 23, 2008 |
Barnes & Noble Inc. appears to be getting more serious about buying chief rival Borders Group Inc., confirming that it had put together a management team to study the feasibility of a combination. The disclosure came as Barnes & Noble, the nation's largest bookseller, reported a wider loss in its fiscal first quarter on a tax-related charge and lowered its sales guidance for the year. Speculation had been mounting about a possible Barnes & Noble-Borders combination since Borders announced in March that it was putting itself up for sale and that it had lined up $42.5 million in financing to help it continue operations.
April 11, 2001 |
Amazon.com is reportedly going to take over Borders Group Inc.'s online operations as part of a new partnership between the two companies. The new alliance would mean that Borders would effectively exit the online book-selling business, The Wall Street Journal reported on its Web site, citing people familiar with the deal.
April 8, 1999 |
Borders Group Inc., the No. 2 bookstore chain criticized by Wall Street for its modest Internet showing and sluggish retail sales, said Wednesday that it will boost its shopping mall presence by buying a seller of toys and novelties at kiosks. All Wound Up will retain its name and be operated as a unit of Borders' Waldenbooks, which has 600 seasonal mall kiosks.
June 2, 1999 |
Before long, readers who can't find the book they want on the shelves at their local Borders bookstore may be able to get a custom-printed paperback copy in a matter of minutes. Borders Group Inc. said Tuesday that it had acquired a 19.9% stake in Atlanta-based Sprout Inc., a first step toward providing books on demand. Terms were not disclosed.
March 4, 2000 |
Borders Group Inc. said Friday that it hired Merrill Lynch & Co. for advice on ways to boost the book retailer's stock, which has fallen 70% in about two years. The No. 2 U.S. book chain is looking at such options as a leveraged buyout, a business combination with another company, or a recapitalization. The news sent Borders shares up $2.06, or 16%, to close at $14.94 on the New York Stock Exchange. The stock has tumbled from a peak of $39.