Pershing Square Ups Stake In Giant Bookseller

Nov 26 2007 | 9:26am ET

William Ackman’s activist hedge fund Pershing Square Capital Management has upped its stake in Borders Group to 17.1%, according to a Securities and Exchange Commission filing Friday.

In the filing, Pershing Square reported owning roughly 10.1 million shares of the giant bookseller. In an earlier SEC filing submitted on Oct. 9, the hedge fund reported owning 6.9 million shares of Borders, which then amounted to an 11.7% stake.

Ackman has reportedly been solicited by the board of the bookseller for his views of the firm’s management. In the past, Ackman has discussed the makeup of the board and corporate governance issues in general with Borders. It is not known if his latest interest in the firm is an attempt to agitate for change.

Ackman is well known in both hedge fund circles and the corporate world for shaking up management at companies such as McDonald's Corp. and Wendy's International.


In Depth

Israeli Hedge Fund Harnesses Big Data

Jul 28 2014 | 8:10am ET

Apica Green is a multi-million dollar Israeli hedge fund that is based in Tel Aviv...

Lifestyle

David Yarrow On Growing His Hedge Fund And Shooting The Animals And People Of Africa - As A Photographer

Jul 23 2014 | 6:44am ET

While he’s always been a photographer, recent expeditions to Iceland, Ethiopia...

Guest Contributor

Compelling Opportunities In The Alternatives Space

Jul 29 2014 | 9:33am ET

In an environment where many asset classes seem expensive by historical standards...

 

Sponsored Content

    Northern Trust Helps Hedge Funds Navigate Derivatives Regulations

    Jul 8 2014 | 10:48am ET

    The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…

Publisher's Note