Borders Up On Restructuring Note (BGP)

Loading...
Loading...
Shares of Borders Group
BGP
are sharply higher in after hours, gaining more than 20% on news that the company has hired Jefferies to restructure the company. Borders had stopped
paying its vendors
as it sees to straighten out its finances.
Activist investor Bill Ackman
has a 37% stake in the company, so this is definitely a positive development for his portfolio. Agree Realty Corporation
ADC
could benefit from the restructuring, as the REIT sold off earlier in the week on bankruptcy fears. Shares of BGP are up 12 cents in after-hours, a gain of nearly 14%.
Posted In: After-Hours CenterConsumer DiscretionaryFinancialsRetail REIT'sSpecialty Stores
We simplify the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!

Loading...