More Circuit City Investors Push For Merger
Circuit City’s largest investor, the hedge fund HBK Capital Management, wrote a letter to the company’s management Monday notifying them that they support the proposed merger with Blockbuster, and asked that Circuit City open its books to Blockbuster. The New York Times’ Dealbook blog reported that HBK believes a merger “would create significant value for all shareholders.”
In addition, investor Mark Wattles made the official filing this week for his own slate of Circuit City board members, setting up a long-awaited proxy fight for this June.
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