Borders Skyrocketing, Up 34% (BGP)

Borders Group, Inc. BGP is skyrocketing today, gaining 34% after Bill Ackman announced today he would finance a deal for Borders to take over Barnes & Noble BKS at $16 per share in cash. BKS is jumping 15% on the back of this news, while BGP is up 37 cents to $1.45, a gain of 34.26%.