With its shares trading at over $1 per share for almost two weeks now, Borders has decided not to ask shareholders to approve a reverse stock split at the company’s annual meeting on May 21. (The NY Stock Exchange has also decided to temporarily suspend the dollar-per-share minimum for all companies.) Borders also announced a sweeping change in the composition of its board. Two positions will be eliminated as it shrinks to eight members–and five directors who will still stand for re-election intend to “step down over the coming months as suitable replacements are found.” They have so many openings […]
