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The Street was intrigued by a possible sale of Source Interlink Cos. Inc. (SIC), of which Ron Burkle controls almost 35%. The $540 million market cap entertainment products and marketing services provider announced on March 2, after the market closed, the start of a strategic review.
SIC's shares rose 9% to $11.18 on March 3. At press time, the stock traded at $10.53 per share.
Bonita Springs, Fla.-based SIC distributes and markets entertainment products such as CDs, DVDs, magazines and books to supermarkets and other retail chains. The company, which has former California Governor Gray Davis on its board, serves 110,000 locations in North America, and also…
Source: HighBeam Research, With Burkle Lurking, Source Interlink Investigates Options.(Ron...