Agree Realty Moving On Borders Restructuring (ADC, BGP)

Agree Realty Corporation ADC is sharply higher in after-hours trading, gaining almost 10% on back of news that Borders Group BGP has hired Jefferies regarding a potential restructuring of the embattled book retailer. Investors were worried earlier in the week that Agree could be affected by a Borders bankruptcy, as it's one of its largest tenants. Shares fell on those concerns. At last check, shares of ADC were up $2.12 to $24.18, a gain of 9.6%.