Why William Ackman of Pershing Square Capital wants to help Borders Group in Leonard Riggio’s Barnes & Noble takeover bid?
Hedge fund manager, William Ackman offered to finance a $16-per-share, bookseller Borders Group Inc (BGP), nation’s second largest bookseller led takeover bid for larger rival Barnes & Noble Inc (BKS) for $963.7 million. Borders, with a $100-million market capitalization, has been losing money for years. Barnes & Noble has an $884-million market cap. William Ackman and [...]