Borders on the Block; Strategic Review in Place Borders has enlisted JPMorgan and Merrill Lynch as the company’s financial advisors to assist in exploring strategic alternatives, which may or may not include the sale and/or certain divisions. Borders also suspended its quarterly dividend and will borrow $42.5 million from Pershing Square, its largest shareholder. Borders Chief Executive George Jones noted in the press release that “this will be a challenging year for retailers due to continued uncertainty in the economic environment,” and that “the current credit environment has made many of these alternatives prohibitively expensive or entirely unavailable,” he is […]
