Circuit City buyout offer
Didnt see it in this story but the story in my paper claimed that CC has about 750 million in cash laying around, which makes them really attractive for a buy-out.
I would have thought (although I never checked into it) that CC and BB were almost on equal footing. The prices seem almost a match, do you prefer BB over CC?
Didnt see it in this story but the story in my paper claimed that CC has about 750 million in cash laying around, which makes them really attractive for a buy-out.
Circuit City Stores Inc. received a $3.25 billion cash acquisition offer from Highfields Capital Management L.P., its fifth largest shareholder..
Circuit City posted a net loss for three straight quarters while No. 1 Best Buy Co.'s profit jumped 75 percent during that period. Circuit City is trying to win customers by remodeling stores and relocating or adding as many as 40 locations next fiscal year.
I would have thought (although I never checked into it) that CC and BB were almost on equal footing. The prices seem almost a match, do you prefer BB over CC?