Huh? Blockbuster
just made public its February 17th offer to purchase
Circuit City for $6 to $8 per share. As of this morning, Circuit City has not provided the requested due diligence necessary to move the deal forward. As such, Blockbuster is
pulling a Microsoft and making the proposal public in hopes of inciting shareholders. It's even gone so far as to publish an open letter from Blockbuster CEO Jim Keyes to Phil Schoonover, CEO of Circuit City.
Really, is this how all corporate affairs will be conducted in the future? What really boggles the mind, though, is Blockbuster's quest for even more brick-and-mortar locations, even as digital downloads begin to take off. Click
here for the full contents of the letter.
From
I4U
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