Guide Note

March 20, 2008: Borders Books has hired JP Morgan Chase and Merrill Lynch to explore a possible sale. The company has been plagued in recent years by shifting consumer trends. While Borders remains the second largest book retailer, behind Barnes & Noble, increased competition from Wal-Mart and Costco has put more pressure on the company. CEO George L. Jones has pointed to the cost of capital and slow sales, as reasons for the company's consideration of a possible buyout.

Fast Facts

1. 2007 fourth quarter earnings: $84.7M down from $89.8M
2. Shares traded as high as $40 ten years ago
3. Suspended the company's quarterly dividend

Borders Fast Facts

1. Stock symbol: BGP
2. Annual Sales (2008): $3.8 Billion
3. Year Established: 1971
4. Industry: Retail
5. Phone: (734) 477-1100
6. Fax: (734) 477-1285
7. HQ: Ann Arbor, Michigan
8. Chairman: Lawerence I. Pollock
9. CEO: George L. Jones
10. CFO: Edward W. Wilhelm
11. Staff: 29,500

• Amazon
• Barnes & Noble