May 09, 2008

Posted by Michaelutoz

Why does Blockbuster and/or Carl Icahn want Circuit City? What does Circuit City offer them?

Circuit City has retained Goldman Sachs to help it explore "strategic alternatives to enhance shareholder value," the electronics retailer said Friday.

The struggling company recently became the target of a roughly $1 billion takeover bid from movie rental giant Blockbuster. Circuit City said Friday it has received a letter from Blockbuster responding to Circuit City's request for information concerning Blockbuster's ability to successfully finance its proposal and to secure shareholder approval.

Circuit City, Blockbuster, Carl Icahn

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