Blockbuster said it offered in February to acquire Circuit City for at least $6 a share in cash, in a deal that would create an $18 billion company, but that the electronics retailer has failed to give the "due diligence necessary to allow Blockbuster to make a definitive proposal."
The entertainment firm said it is now making the proposal public to give shareholders "the opportunity to participate in determining the destiny of the company."
Monday, April 14, 2008
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