Friday, July 01, 2011

Borders Accepts $215.1 Offer From Najafi Companies

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Borders Group announced this evening that it has entered into an asset purchase agreement with Direct Brands, a portfolio company of Najafi Companies. Under the terms of the agreement, Direct Brands would purchase substantially all of Borders' assets for $215.1 million, as well as assume $220 million of liabilities, subject to the auction and Bankruptcy Court approval.


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Wall Street Journal
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