Finance / United States
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Blockbuster Backs Out
July 2008 | M&A News AlertSorry, you must be a subscriber to view this article in full. If you are a subscriber please login.
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On July 1 Blockbuster abandoned its US$1.3bn offer to buy electronics retailer Circuit City Stores, ending weeks of speculation that the deal was on the rocks. Citing market conditions, CEO Jim Keyes said the deal was no longer in the interest of shareholders. Investors agreed, judging by the 7% increase in Blockbuster's share price following the