William Ackerman, CEO of hedge fund Pershing Square Capital, has said Borders U.S. is not a "likely bankruptcy."

Ackerman, whose company is Borders U.S.' largest shareholder, also told CNBC's "Fast Money" show that he thinks the company has "stabilized", reports Publishers Weekly.

"The stock trades as if it's going bankrupt, but we don't see it as a likely bankruptcy," he said.

"I think Borders is more risk/reward than Barnes & Noble," he added. "Ultimately I think the industry may consolidate and the two companies become one."