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I still say watch for the Thursday quarterly figures from Borders ... up? down? sideways? The hedge fund interested in bankrolling this merger, which holds 41% of Borders stock with warrants counted, and is willing to pay $16 cash for the outstanding B&N shares (aka $1 billion) ... almost certainly knows which way the wind is blowing. But there are other market forces at work, including "8 to 10" other interested parties with bids in to buy B&N ... according to B&N.
So, yah, ok ... wait and see. But 36 hours later, has anyone noticed that the B&N shares, though higher than before the offer was made public, haven't actually hit $16 yet? With a Charlie Brown smile, a couple of analysts optimistically stated (including repeated by WSJ "reporters") that the company would sell for at least $20/share. However, B&N closed at $15.65 today ... I'm just saying ....
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