Blockbuster has made public that it is offering to purchase Circuit City for at least 6 dollars a share - subject to due diligence. According to Blockbuster CEO Jim Keyes, the two companies have been discussing a possible sale since the end of last year. The offer was originally made on February 17th but Circuit City has failed to provide the due diligence necessary to allow Blockbuster to make a more “definitive offer.”  The company has decided to make the offer public “because it believes the shareholders of Circuit City should have the opportunity to participate in determining the destiny of the company.”

According to a public letter from Blockbuster, the “combination of the two companies would result in an $18 billion global retail enterprise uniquely positioned to capitalize on the growing convergence of media content and electronic devices.”

You can read more about the offer here:

[Check it out via News.com]

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