Barnes & Noble Considers Buying Borders22 May, 2008 By: Billy Gil
Barnes & Noble Inc. CFO Joseph Lombardi confirmed in a financial call May 22 that the company was considering acquiring its main competitor, Borders Group.
“We've put together a team of senior management people and financial advisors to study the feasibility of a transaction with Borders,” Lombardi said. “We'll provide no further comments about any discussions we may or may not have.”
Speculation arose when Borders on Mar. 20 said it was considering putting some or all of the company up for sale. Meanwhile, Borders reported a first-quarter 2008 (ended May 3) net loss of $2.2 million, compared to a net loss of $1.6 million the first quarter of 2007.