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The deal between private equity firm Najafi Cos. and The Borders Group, which filed for bankruptcy protection in February, is off, according to The New York Times DealBook. Yesterday, a committee of Borders' unsecured creditors rejected the Najafi takeover proposal.
The Najafi offer was to purchase Borders stores for $215.1 million and assume liabilities of $220 million.
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- Companies:
- Borders Group
- The New York Times
- Places:
- Manhattan
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