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Barnes and Noble eyeing Borders bid: report

NEW YORK
Tue May 20, 2008 9:20pm EDT

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A Barnes and Noble book store is shown here in Encinitas May 20, 2008. REUTERS/Mike Blake

NEW YORK (Reuters) - U.S. bookseller Barnes and Noble Inc (BKS.N) is looking into a possible bid for competitor Borders Group Inc (BGP.N), the Wall Street Journal reported on Tuesday.

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Barnes and Noble has put together a team of executives and advisers to look into the possible acquisition, the Journal said, citing a person familiar with the situation.

Borders said in March that it might sell itself as it has struggled with liquidity and economic issues that have cut into customers' discretionary spending.

The Journal said that 30 people, including strategic buyers and private equity firms, have either signed confidentiality agreements or are in talks to sign agreements so they can look at a bid for Borders.

A Borders spokeswoman said the company would not comment on its strategic alternatives process.

Barnes and Noble could not be immediately reached for comment.

(Reporting by Michael Erman; Editing by Gary Hill)
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