According to eWeek, Circuit City has received an unsolicited takeover offer of $17 a share, or about $3.25 billion.
“The proposal from Highfields Capital Management LP represents a 19.5-percent premium over Circuit City’s closing share price of $14.23 on Monday on the New York Stock Exchange.
Its announcement sent Circuit City shares soaring 19.5 percent to $17 on the Inet electronic brokerage system before the bell. “
Source: ExtremeTech
