Blockbuster bids for Circuit City

Blockbuster is attempting to purchase electronics chain Circuit City, informs Variety. The cash offer of $6 - $8 a share was made February 17, only now becoming public because Blockbuster wants Circuit City shareholders to weigh-in on the matter. The response from Circuit City is that it will “carefully consider and evaluate” the offer, while adding that “fundamental questions” remain. Among those questions is the matter of how Blockbuster will fund the $1 billion acquisition.

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