Report: Barnes & Noble Eyeing Borders

New York City Barnes & Noble is looking into a possible bid for competitor Borders Group, according to a Wall Street Journal report.

Barnes & Noble has put together a team of executives and advisers to look into the possible acquisition, the report said.

Borders said in March that it might sell itself as it has struggled with liquidity and economic issues that have cut into customers' discretionary spending.

According to The Wall Street Journal, 30 people, including strategic buyers and private-equity firms, have either signed confidentiality agreements or are in talks to sign agreements so they can look at a bid for Borders.

A Borders spokeswoman said the company would not comment on its strategic-alternatives process.