Hollywood directors nix Big Blue offer
Hello all,
Hollywood Entertainment's board of directors have unanimously rejected Blockbuster Video's hostile bid for the company and urged shareholders to vote in favor of the proposed merger with Movie Gallery.
In a letter to shareholders, the board said Thursday that the risk that Blockbuster won't be able to complete the transaction due to regulatory resistance outweighs the $1.25 per share premium offered above Movie Gallery's price.
Blockbuster launched its hostile bid Feb. 4, offering Hollywood shareholders $11.50 a share in cash, plus $3 a share in Blockbuster stock. Movie Gallery signed a definitive agreement last month to acquire Hollywood for $13.25 a share.
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Talk to ya soon,
Donnie Hoover
www.cheap-dvds-advisor.com
Your One Stop Source For Cheap DVDS !!
DVD Reviews
Hollywood Entertainment's board of directors have unanimously rejected Blockbuster Video's hostile bid for the company and urged shareholders to vote in favor of the proposed merger with Movie Gallery.
In a letter to shareholders, the board said Thursday that the risk that Blockbuster won't be able to complete the transaction due to regulatory resistance outweighs the $1.25 per share premium offered above Movie Gallery's price.
Blockbuster launched its hostile bid Feb. 4, offering Hollywood shareholders $11.50 a share in cash, plus $3 a share in Blockbuster stock. Movie Gallery signed a definitive agreement last month to acquire Hollywood for $13.25 a share.
To read the rest of the article Click Here
Talk to ya soon,
Donnie Hoover
www.cheap-dvds-advisor.com
Your One Stop Source For Cheap DVDS !!
DVD Reviews
posted by Cheap DVDs Guy at 8:44 PM
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