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Circuit City Opens Its Books to Blockbuster
Circuit City, the electronics retail chain, has effectively put itself up for sale. Circuit City announced today that it has hired Goldman Sachs & Co to help explore strategic alternatives, and would allow the video rental company Blockbuster to examine its books in its unsolicited takeover bid to acquire Circuit City.
The announcement indicated that some progress for Blockbuster’s bid, which is valued at more than $1 billion in cash. Many on Wall Street have called the deal a long shot, in part because of the difficulty of financing it.
New York Times Technology News
Posted by | Fri, May 09, 2008 - 10:59 AM
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