"Activist hedge fund Pershing Square Capital Management has extended a $42.5 million lifeline to Borders Group, as the country’s second-largest bookseller put itself up for sale.
The New York-based hedge fund lent the money to Borders, in which it holds an 18% stake, after the Ann Arbor, Mich.-based company was unable to obtain necessary financing from its banks, Bank of America and JPMorgan Chase."
Focus on the second paragraph...
via FinAlt
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