Borders Buy Out Means eBook Business Stays
Borders has found a buyer and if the deal goes through, the company would stay in business. Thursday evening Borders accepted a $215.1 million buyout from Direct Brands, a portfolio of Najafi Companies, which also owns the Book-of-the-Month Club.
If the deal goes through, Borders would operate as a wholly owned subsidiary of Direct Brands. And apparently the company plans to focus on its eBook business.
Mike Edwards, Borders Group President, stated: “We are pleased to take another important step forward as we position Borders for a vibrant future and sustainable earnings growth.
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