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COPYRIGHT 2005 The Dallas Morning News
Byline: Maria Halkias
Mar. 26--Blockbuster Inc. has given up on merging with its biggest rival.
The Dallas-based movie and video game rental and retail chain said Friday that it's ending its hostile tender offer for Hollywood Entertainment Corp. of Wilsonville, Ore.
Blockbuster's exit will help Movie Gallery
Inc. move forward with its offer to buy Hollywood for $13.25 a share. Hollywood has set a special shareholder meeting for April 22 to approve the Movie Gallery bid.
One more offer remains active. Former Hollywood chief executive Mark Wattles has proposed to buy up to 1,000 Hollywood Video locations, or about half the chain.
His offer, made Tuesday, was intended to make the higher Blockbuster bid more palatable to...
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