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Article: Borders Group Announces Discussions with Respect to The Sale of the Company Have Been Terminated.
- Article from:
- PR Newswire
- Article date:
- July 6, 2000
CopyrightCOPYRIGHT 2000 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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ANN ARBOR, Mich., July 6 /PRNewswire/ --
Borders Group, Inc. (NYSE: BGP) today announced that discussions with respect to a potential acquisition of the company have terminated.
On March 3, 2000, Borders announced it would explore strategic alternatives to increase shareholder value, including the sale of the company. The company will continue to explore other alternatives, including share repurchases.
Gregory P. Josefowicz, president and chief executive officer of Borders Group, said, "We believe Borders is undervalued in the market and we are focused on changing that. As we explore our other strategic alternatives, we will continue to ...