- Two men accused of selling meth to undercover cop (6/22/17)
- Police: Man grabbed wheel, tried to kill driver and himself in Jackson crash (6/23/17)
- Jackson scores high in survey of residents; better streets, Aldi are high priorities (6/20/17)4
- Former Cape cop faces stealing-by-deceit charge (6/18/17)3
- Marble Hill mayor hires city manager without board approval (6/21/17)2
- Cape man faces charges of victim tampering (6/18/17)
- Two charged in theft of jewelry from Cape storage facility (6/23/17)1
- Library provides free lunches this summer (6/19/17)
- Fire destroys two greenhouses at Travelers Gazebo site in Cape (6/22/17)
- Annual SEMO District Fair event lineup announced (6/23/17)
Investor offers to finance Borders' Barnes & Noble bid
NEW YORK -- Buying out Barnes & Noble would give its much smaller rival, Borders Group, a bigger and firmer stake in the digital world, but some analysts said combining the two largest companies in the shrinking realm of traditional book selling could hurt both -- perhaps irreparably.
Activist investor William Ackman and his investment firm announced in a regulatory filing Monday that they had offered to finance a $963 million bid by Borders for Barnes & Noble Inc.
Under the deal, Pershing Square Capital Management would sponsor a bid by Borders of $16 per share for more than 60 million outstanding Barnes & Noble shares. The news sent Barnes & Noble's shares up 10.6 percent, or $1.41, on Monday to close at $14.69.
Both book sellers face increasingly tough competition from much bigger merchants online and in stores, including Amazon.com, Target Corp. and Wal-Mart Stores Inc. And both have said they are relying for growth on electronic books and readers, a still-small arena where another giant, Google Inc., launched its own bookstore Monday.