Borders completes refinancing; Pershing’s bid for international stores raised

8 April 2008

Borders Group has announced that it has finalised its new financing agreement with Pershing Square Capital Management, its largest shareholder, under 'terms more favorable than the original deal.'Pershing has also increased its offer to acquire Borders's international subsidiaries--including the stores in Australian and New Zealand--by US$10 million, from US$125 million...