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Activist Shareholder Asks Amazon To Buy Borders(InvesTrend Via Acquire Media NewsEdge) June 12, 2008 (FinancialWire) William Ackerman, a billionaire hedge fund manager who is a major stakeholder in book seller Borders Group, said that the company should consider approaching online retailer Amazon (NASDAQ: AMZN) (Current Market Cap: US$32.28 Bil.) about an acquisition. Ackerman, whose Pershing Square Capital Management owns 30% of Borders, said a buyout could boost both company s sales strategies. Borders has about 500 retail outlets across the country while Amazon has a wide ranging Internet presence but no brick and mortar stores. Ackerman said that if Amazon loses its advantage from not needing to collect sales tax online, buying retail locations will then make sense. He believes customers will benefit from getting same-day delivery that a network of retail stores can provide, and Amazon would also get an opportunity to sell other products not currently carried at Border's locations. Borders shares fell 24 cents, or 3.5%, to $6.70, while Amazon shed $2.34, or 2.9%, to $77.28. Amazon was enrolled in Investrend Research affiliate ValuEngine's professional analyst program. Complete information is available at the company's InvestorPower(tm) page, which is accessible from FinancialWire is a fully independent, proprietary news wire service of Investrend Information, a division of Investrend Communications, Inc. It is not a press release service and receives no compensation from any company for its news or opinions. All FinancialWire news is available at http://www.financialwire.net . The FinancialWire NewsFeed is available in multiple formats at http://www.investrend.com/XmlFeeds?level=268 . Please address any inquiries to [email protected] . Free annual reports for companies mentioned in the news are available at http://investrend.ar.wilink.com/?level=279 . (Distributed for Investrend Communications, Inc. via M2 Communications Ltd (www.m2.com)) Copyright ? 2008 M2 Communications Ltd. |