Borders Group Inc. (NYSE:BGP) moved up over 8% today after famed activist Bill Ackman said he thought the company was extremely cheap at an investors conference today. He predicted that the company could be worth $36 per share in 18 months and planned to disclose an 11% stake. The head of Perishing Square Capital - an activist hedge fund - also added that he is happy with the company's aggressive repurchasing plan along with its new CEO George Jones. Notably, Ackman also holds an 8% stake in rival Barns and Noble (NYSE:BKS) - a stock on which he made similar comments. Both of these stocks are definitely
worth watching as Ackman accumulates shares.
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