Spencer Capital buys more Borders shares, increasing stake to 6.8%

By Lisa Kerner

Charlotte, N.C., July 9 - Borders Group, Inc. shareholders led by Spencer Capital Management, LLC purchased 2,130, 219 shares of the company's stock between June 21 and July 2, priced from $19.01 to $19.81 per share, according to a schedule 13D filing with the Securities and Exchange Commission.

The reporting persons had conversations with the company's chief financial officer in June regarding Borders' business and may choose to also communicate with other shareholders about Borders, the filing stated.

In addition, the shareholders may formulate plans or proposals with respect to the company, but they have no plans to do so at this time.

Spencer Capital beneficially owns 4,008,101 shares, or 6.8%, of the Ann Arbor, Mich., book, music and movie retailer.

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