The New Stuff

Blockbuster wants to buy Circuit City


blockbuster.jpgBlockbuster Inc. has offered to acquire Circuit City Stores, Inc. for at least $6.00 per share in cash, subject to due diligence. The offer was made in a letter sent to Circuit City Chairman and Chief Executive Officer Philip Schoonover on February 17th on behalf of the Blockbuster Board of Directors, which fully supports the offer. To date however, Circuit City has failed to provide due diligence necessary to allow Blockbuster to make a definitive proposal. Blockbuster is making its proposal public because it believes the shareholders of Circuit City should have the opportunity to participate in determining the destiny of the company. In addition, as Blockbuster has other strategic opportunities, its offer is conditioned upon timely commencement of the due diligence process.

Blockbuster noted the combination of the two companies would result in an $18 billion global retail enterprise uniquely positioned to capitalize on the growing convergence of media content and electronic devices. The transaction would allow both companies to benefit from the revenue growth generated by their complementary products, while the resulting synergies would substantially improve consolidated financial performance, thereby increasing shareholder value.

Recently Published

podcasts
»

Podcasts For Different Daily Activities: Picking a Routine

Once you get into the world of podcasts, you never really go back. ...

marketing your business online
»

How Are You Using The Internet To Market Your Business?

There are so many ways to market online, and most articles seem to ...

maxresdefault
»

Poki Has New Multiplayer Game That’s Topping the Charts

Barely a month old, Slither.io keeps its top spot in free iPad charts ...

e-learning
»

Emerging Trends in Online Graduate Programs

After the massive online open course model peaked a few years back, ...

research-keyboard
»

Best Online Resources for Researchers

Research work is not for everyone as it entails patience, analysis ...

medical-blog
»

3 Tips for Writing Better Medical Blogs

While writing comes naturally to some, most medical professionals who ...

videoconferencing
»

3 Ways to Use Video Chat Within Your Business

In your personal life, you probably use different forms of video ...

online-marketing
»

Three Tips For Getting The Most Out Of Online Marketing

Whether you just started a new business or you have one that’s ...

money-931423_960_720
»

4 Personal Finance Blogs Every Millennial Should Follow

Adults should be responsible for managing their finances, regardless ...