Both these booksellers have struggled to adapt and keep pace with new digital tech, discounters and online competitors...But, if I had to guess which one would buy the other in a takeover bid, I would have guessed B&N would be the pursuer and not the other way around.

Borders must have more vision and strength than I realized...or they just want to stay in the game. Borders is smaller than B&N but some say they are better organized.

This from the Associated Press through Crain's New York Business:

"Borders holders willing to fund Barnes & Noble bid"

Borders shareholders, among them Pershing Square Capital Management Chief Executive William Ackman, said they would be willing to fund a cash offer for Barnes & Noble.

 Key shareholders of Borders Group Inc. say they are willing to finance a takeover bid for rival bookseller Barnes & Noble Inc.

The Borders shareholders, including Pershing Square Capital Management, Pershing Chief Executive William Ackman and BGP Holdings Corp., said Monday in a regulatory filing that they would be willing to fund an offer of $16 per share in cash for Barnes & Noble.

With about 60.2 million shares outstanding, that would value Barnes & Noble at about $963.2 million.

Read and learn more