Ackman Calls Borders (BGP) Very Very Cheap
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At the Value Investing Congress today, activist investor William Ackman, founder of hedge fund Pershing Square Capital, called Borders (NYSE: BGP) a, "very very cheap stock."
Recently, Ackman's hedge fund disclosed they raised their stake in the book retailer to 17.1% (10,075,580 shares).
Ackman's fund also owns a large stake in Borders' rival Barnes & Noble (NYSE: BKS).
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