Monday, December 6, 2010

Just Nuts: Titanic Rushing to Join Forces with the Andrea Doria - Borders to Buy Barnes & Noble?

The Dividend Daily: "Book retailer Barnes & Noble, Inc. (BKS) on Monday saw its shares soar in premarket trading following the news that Bill Ackman’s Pershing Square Capital hedge fund is willing to finance a $16 per-share cash bid for the company from rival Borders Group (BGP). That $16 bid would represent a 20% premium to BKS’ Friday closing price of $13.28. Ackman also noted he would finance a cash/stock combination offer for BKS from BGP, should both parties prefer to go that route. Barnes & Noble shares soared $2.27, or 17%, in premarket trading Monday."