Borders Group May Sell; Lines Up $42.5 Million Infusion

Posted on by Chief Marketer Staff

Borders Group Inc., the direct marketer and retailer of books, said Thursday it may put itself up for sale and has lined up $42.5 million to stay in business.

First off, the Ann Arbor, MI-based firm has hired J.P. Morgan Securities Inc. and Merrill Lynch and Co. as financial advisors as it explores whether to sell the company and/or certain divisions.

Meanwhile, Borders has received a financing commitment from Pershing Square Capital Management L.P. for a loan $42.5 million and an offer to purchase certain of its international businesses.

The company also said it suspended its quarterly dividend program

More

Related Posts

Chief Marketer Videos

by Chief Marketer Staff

In our latest Marketers on Fire LinkedIn Live, Anywhere Real Estate CMO Esther-Mireya Tejeda discusses consumer targeting strategies, the evolution of the CMO role and advice for aspiring C-suite marketers.



CALL FOR ENTRIES OPEN



CALL FOR ENTRIES OPEN