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Blockbuster has had a nice move already but should have some more room to the upside. i'm already in a 3.97 and 4.19 so i may sell some soon. would be nice to that it break that 5 price. not much news lately. couple of 5% holders recently.
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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sold the last of my BBI at 5.70. hopefully not too early. i think their debt load might come back to bite em
Posts: 1045 | From: novato,ca,usa | Registered: Aug 2003
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time to load at 2.80-jmho---WSJ ****: Icahn, Goldman Step Into RingLast update: 5/12/2008 11:30:38 AM(This story has been posted on The Wall Street Journal Online's Deal Journal **** at ****s.wsj.com/deals.)
Posted by Joe Mantone Goldman Sachs Group Inc.(GS), watch out. Carl Icahn is back. The activist shareholder is set to square off with Goldman in negotiations in Blockbuster Inc. (BBI) Takes Over Circuit City Stores Inc. (CC), a deal that hasn't received critical acclaim. Icahn, a Blockbuster director and its largest shareholder, has been advising Blockbuster CEO Jim Keyes and playing the lead antagonizing role in the attempted acquisition of Circuit, which has brought in Goldman as an adviser on the deal. Earlier this year, Icahn pushed Goldman aside and took over negotiations in the BEA Systems-Oracle Corp. (ORCL) deal. In that acquisition, Goldman and Icahn were both on the side of BEA, but it was Icahn who got Oracle to raise its offer to $19.38 from $17. After negotiating the deal, Icahn phoned a Goldman representative to share the news. The BEA-Oracle deal seemed to be at a standstill before Icahn got into the thick of it. Similarly, Blockbuster's bid to buy Circuit City wasn't going anywhere until Icahn penned a letter to Circuit saying he would finance a deal if Blockbuster couldn't get funding or shareholder approval. After receiving the letter, Circuit City decided to let Icahn and, oh yeah, Blockbuster review its books. So with Icahn advising, negotiating, performing due diligence and maybe even providing financing for deals, the Deal Journal wondered: Is Icahn becoming his own investment bank? -By Joe Mantone, The Wall Street Journal Online; 212-416-4145. (END) Dow Jones NewswiresMay 12, 2008 11:30 ET (15:30 GMT)
Posts: 3056 | Registered: Feb 2005
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