Will Borders buy Barnes & Noble?

It is no secret that Barnes & Noble wants a change in strategy, and some new owners.

The bookseller is conducting an auction to sell itself, after having fought off the billionaire investor Ronald W. Burkle earlier this year. There are reportedly eight to 10 potential buyers who have made initial offers.

In 2008, Borders was examining the same thing. The country's other big bookseller put itself up for sale, but ended up taking itself off the auction block.

But what if the country’s two biggest booksellers merged?

William A. Ackman, the Borders Group’s biggest shareholder, has offered to finance a $960 million takeover bid for its larger rival, Barnes & Noble, according to a regulatory filing, as reported in The New York Times Dealbook.

It could be an interesting merger, as long as the combined entity has a viable strategy to reinvent book retailing in this new day and age.

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