A major Borders shareholder wants the company to sell itself to Amazon. And when a guy like William Ackerman talks, Borders is going to at least listen carefully. Trouble is, Ackerman's pitch falls flat. Borders shares are up 3% on the news today to $6.94.
Ackerman is the billionaire founder of a hedge fund that owns about 30% of Borders. He thinks Amazon could use a physical presence across the country (Borders has 500 stores). It would cost Amazon more than $1 billion to build those stores on its own, but it could buy Borders for $400 million, Ackerman said.
If Amazon wanted to open stores, it would have done so a long time ago. But Ackerman says that life's about to change for Amazon in a way that might make Borders more attractive.
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