Blockbuster Inc. has offered to acquire Circuit City Stores, Inc. for at least $6.00 per share in cash, subject to due diligence. The offer was made on February 17th.
Circuit City has apparently failed to provide due diligence necessary to allow Blockbuster to make a definitive proposal. Blockbuster is making its proposal public because it believes the shareholders of Circuit City should have the opportunity to participate in determining the destiny of the company.
Blockbuster noted the combination of the two companies would result in an $18 billion global retail enterprise uniquely positioned to capitalize on the growing convergence of media content and electronic devices. The transaction would allow both companies to benefit from the revenue growth generated by their complementary products, while the resulting synergies would substantially improve consolidated financial performance, thereby increasing shareholder value.
It is quite an interesting thought that the movie rental company would be extending to also sell electronics. At some point in the next 5-10 years there will be no need for Blockbuster stores as movies will be downloaded and not rented via a disk. It seems to me that Blockbuster tries to stay a brick and mortar business also in a digital movie rental future.
Centurion Corporation said it has agreed to acquire a piece of land located at Seberang Perai Selatan in Penang, Malaysia, for RM6.3 million ($2.45 million). This marks the group’s first acquisition in another state of Malaysia outside of Joh ... Source: The Edge Singapore
Full article at: The Edge Singapore
Aug 12 2014, 9:21am CDT
Luigi Lugmayr Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years
experience in the technology field to the ever evolving and exciting
world of gadgets. He started I4U News back in 2000 and evolved it into
vibrant technology magazine.
Luigi can be contacted directly at email@example.com.
Linda Cohn Files Lawsuit Against New York Ice Rink
ESPN broadcaster Linda Cohn is filing a lawsuit against a New York ice rink after a group of kids pushed a heavy coin machine which allegedly fell on her, resulting in a huge gash that required 25 stitches.
The “geek mind” is concerned with more than just the latest iPhone rumors, or which company will win the gaming console wars. I4U is concerned with more than just the latest photo shoot or other celebrity gossip.
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