Circuit City has retained Goldman Sachs to help it explore "strategic alternatives to enhance shareholder value," the electronics retailer said Friday.
The struggling company recently became the target of a roughly $1 billion takeover bid from movie rental giant Blockbuster. Circuit City said Friday it has received a letter from Blockbuster responding to Circuit City's request for information concerning Blockbuster's ability to successfully finance its proposal and to secure shareholder approval.
Blockbuster's letter included a note from Carl Icahn, a Blockbuster director and its largest shareholder. The note stated that, assuming his satisfaction with the … Read more