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Blockbuster tries to gobble Hollywod Videos
Posted on Dec 28, 04 02:33 PM PDT
They will offer $11.5 per share, for a total of about $700M, plus $300M in Hollywood debts. The shares of Hollywood skyrocketed on the news (+30%). If successful, this takeover would give control to Blockbuster of 50% of the rental stores, nationwide. It will also boost Blockbuster's revenue immediately. |
Blockbuster just said that they were trying to make a hostile takeover of rival Hollywood Video.
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Forbes
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