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Archive for mergers

Best Buy buys 50% of Carphone Warehouse

Posted in mergers by Shane McGlaun on May 8th, 2008

Best Buy and Related BrandsFor many fans of gadgets, games and electronics Best Buy is the place to go shopping when you need to scratch the gadget itch. What some don’t realize is that Best Buy owns and operates some other very popular retail locations around the world.

Best Buy announced today that it has agreed to buy 50% of Carphone Warehouse for a cash amount of $2.1 billion. The purchase will allow Best Buy to open retail stores in Europe and provide Carphone Warehouse with the funds to pay down debt and offer new services.

Blockbuster wants to buy Circuit City

Posted in mergers by Shane McGlaun on April 14th, 2008

Blockbuster Wants to Buy Circuit CityWhen it comes to getting my gadget or video game fix and I don’t want to wait for something to ship from an online store it’s off to Best Buy or Circuit City for me. I also like to watch lots of movies and I am in the movie store almost every Tuesday looking for something cool to watch and Blockbuster is a store of choice. It seems that Blockbuster and Circuit City could see a merger at some time in the near future.

Blockbuster announced today that it has offered to buy Circuit City for $6.00 per share in cash with the offer subject to due diligence. Blockbuster says that the offer was made in a letter sent to Circuit City Chairman and CEO Philip Schoonover on February 17 on behalf of the Blockbuster Board of Directors.