14 May
Blockbuster’s Planned Circuit City Buy Moves Ahead
After months of resistance, retailer Circuit City opened up its books for Blockbuster to complete the process of due diligence to acquire the consumer electronics retailer.
Blockbuster made a public offer in April of up to US$1.33 billion to buy Circuit City, in a deal that would allow the movie rental company to put media content on electronic devices. Blockbuster offered $6 to $8 per share in cash for Circuit City, depending on the results of a check of Circuit City’s books.