Is Borders Bankruptcy Bound?
Barnes & Noble put itself up for sale in August, and in December, hedge fund manager William Ackman, who owns a 37% stake in Borders, said he was prepared to back a cash merger deal. Ackman proposed Borders purchasing Barnes & Noble for $16 a share.
"People who say the two shouldn't merge aren't looking at the whole picture," McTevia says. "If a merger doesn't take place it leaves two giant companies out there trying to compete in an industry that is going through major changes."
Given all of this, do you think Borders is bankruptcy bound or will it manage to turnaround its ailing business? Take our poll below to see what the consensus of TheStreet is....
--Written by Jeanine Poggi in New York.
>To contact the writer of this article, click here: Jeanine Poggi.
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