Blockbuster (BBI) launches hostile bid for Hollywood Entertainment (HLYW)

Includes: BBI, MVGRQ
by: David Strahlberg

Blockbuster said it would launch a hostile big for Hollywood Entertainment, offering $14.50 per share.   

Blockbuster's bid represents a 9% premium to Movie Gallery's (MOVI)
$13.25 per share  offer.  In October 2004, HLYW agreed to a $10.25 per
share from Leonard Green & Partners before accepting MOVI's offer
in January 2005. Read about it.