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Investment Management Firm Takes Minority Stake in Borders

Forbes reports that investment management firm Spencer Capital Management LLC reported a 6.8 percent stake in Borders in a regulatory filing on Monday. According to the filing with the Securities and Exchange Commission, Spencer Capital and portfolio manager Kenneth H. Shubin Stein own 4 million shares of the Ann Arbor, Mich.-based company. Following the acquisition, Spencer is the company’s fourth largest shareholder.

Spencer said it acquired the stock because it represented “an attractive investment opportunity based on the company’s business prospects.” The shareholder said it discussed Borders’ business with the chief financial officer in late June and plans to engage in further discussions with the company’s management or board.

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Novel Writing: Editing Your Draft

Novel Writing: Editing Your DraftStarting July 16, workshop your novel in-progress with a published author! Erika Mailman's course will function as a workshop, with the emphasis on sharing your work for review and providing critiques for your peers. By the end of this class you'll have up to 75 pages of you novel workshopped and developed patterns to improve your writing. Register now!