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A three-act play:

April 14
Blockbuster offers $1 billion for Circuit City

May 10
Circuit City Opens Its Books to Blockbuster

July 2
Blockbuster Withdraws Offer for Circuit City

This was one the worst ideas to hit the Street in a long time. The good thing is that shareholders had far better judgment than management. Score one for the wisdom of crowds.

Posted by edelfenbein at July 2, 2008 12:14 PM