ANN ARBOR, Mich., Oct. 1 /PRNewswire-FirstCall/ — Consistent with a
previously announced agreement, Borders Group, Inc.(NYSE: BGP) today issued
warrants to Pershing Square Capital Management, L.P. to purchase an
additional 5.15 million shares of the company’s common stock exercisable at
$7.00 per share, subject to anti-dilution adjustments. The warrants are
exercisable until October 9, 2014. The agreement, dated April 9, 2008, is
detailed in Borders Group’s 8-K filing dated April 11, 2008.
Disclosure (“none” means no position):Long BGP
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5 replies on “Borders Issues Warrants to Pershing”
Todd,
when are you going to post the George Jones interview?
hopefully tomorrow…friday latest
Todd,
What are your thoughts on Ackman’s next move. With the credit market situation, it does not appear that a third party buyer is likely to emerge. Do you think he may try to take it private given how much he would own if warrants are exercised. I know he entered into some swaps at higher prices which may not make it appealing.
Dan
he could, but i think that with what Jones is doing, it is turning around and there is plenty to be made holding..
Whats with everyone always wanting to take companies private?