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Blockbuster Offers to Buy Circuit City

by Thomas Ricker on April 14, 2008 at 10:38 AM

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

Tags: blockbuster, circuit city, CircuitCity

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