As we previously reported, video rental giant Blockbuster has been looking to acquire electronics giant Circuit City. Blockbuster has already offered a whopping $1 billion, but reports are flying in, saying that they cannot fund such a hefty offer.
In an official statement from the company, Circuit City said:
“Circuit City awaits a viable financing structure that is predictably executable by Blockbuster given its current constraints of size and capital structure before it would be appropriate to allow further due diligence.”
While this may be just another attempt to stop the merger in its tracks, Blockbuster has no resistance to going hostile in the bid. More on this as it happens.
Via [Crave]
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