Najafi Companies in Negotiations with Borders

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By Maryann Yin

Najafi Companies, an investment firm headed by Jahm Najafi, has expressed an interest in purchasing Borders’ 265 superstores, website operations and customer lists.

According to The Wall Street Journal, the firm has had past dealings in the publishing industry. In 2008, Najafi picked up Direct Brands Inc., company that owns the following brands: the Book of the Month Club, the DoubleDay Book Club, and Columbia House DVD.

Here’s more from the investor’s site description: “Najafi Companies is an International private investment firm based in Phoenix, Arizona. The firm makes highly-selective investments up to $1 billion in transaction value in companies with strong management teams across a variety of industries, and often in industries out of popular favor.”

The bookseller is also entertaining an offer from The Gores Group. The article reports that The Gores Group intends to transform Borders into more of an online retailer. Najafi’s future plans for Borders, should their bid prove successful, remains a mystery.