Shares of Borders Group jump up following possible buyout news

21.05.2008 15:18

International bookseller Borders Group (NYSE: BGP) may soon be acquired by its rival Barnes & Noble, Inc.

It oozed out that the largest specialty book retailer in the United States had formed a special team of analysts to scan the possibility of acquiring Borders Group.

Following the possible acquisition report Borders Group announced the growth of its shares by 14 percent. They jumped up 89 cents to $7.24 in midday trading on the New York Stock Exchange.

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