Carl Icahn interested in acquiring Circuit City

Carl Icahn interested in acquiring Circuit City

US based retailing chain Circuit City Stores has said that they are fine with giving access to their books to Blockbuster for reviewing as they have shown interests in acquiring them.

The company added that billionaire investor Carl Icahn is also interested in a possible deal if Blockbuster fails to get the financing for a deal.

Icahn has shown interest in acquiring the company on his own.

Circuit City added that they have now hired the services of Goldman Sachs & Co. to explore strategic alternatives. They have however not decided what they are going to do.

Circuit City had earlier said that they doubted that Blockbuster would be able to generate enough resources to acquire them.

A company representative said: “While it is our hope that the due diligence process will reinforce both the strategic and financial rationale behind the deal, we are committed to only doing a transaction that provides substantial benefits for our shareholders.”