|
The hedge fund's offer to merge Borders with B&N was bizarre -- but then none of us knows the actual details. I doubt if the fund's interest in Borders has evaporated: the GE Capital deal, too, shows there are levers to pull that seem attractive to new money. (Hands up anyone here willing to toss $1000 into the kitty to buy shares?) But it sure doesn't look pretty and, while the word is over-used in both political and financial circles, desperate does seem to apply. At least for those currently in charge and with current cash invested.
|