Hollywood Entertainment Investor Questions Buyout
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Contrarian Capital Management, an investment advisor that owns some 1.9 million shares of Hollywood Entertainment Corp., said on Wednesday it asked the No. 2 U.S. video store to rethink its decision to go private through a buyout.
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Right to privacy? No doubt emboldened by Carl Icahn&#39;s interest in the matter, Blockbuster (nyse: BBI - news - people ) said it may approach Hollywood Entertainment (nasdaq: HLYW - news - people ) investors directly with an offer.
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BEA Systems replied Monday to investor Carl Icahn&#39;s demand for a shareholder vote on purchase bids for the company.&quot;The Board and management of BEA Systems are not opposed to an acquisition of the company. In fact, we are currently exploring ways to maximize shareholder value, including the possible sale of the company,&quot; the statement reads in part.The board goes on to repeat its argument that Oracle&#39;s US$17 per share offer, which expired Sunday, was too low. BEA has asked for $21 per share but received no takers to date, or indeed any other public bids at all. Oracle&#39;s offer was worth $6.7 billion, as opposed to the approximately $8.3 billion BEA&#39;s asking price would command.BEA emphasized that it is open to being acquired. &quot;It is important that there be no misunderstanding of the Board&#39;s position. We are opposed to selling the company at $17.00 per share. We are not opposed to selling the company.&quot;Icahn is BEA&#39;s largest shareholder. He said in a statement Friday that he had filed suit in Delaware to force a shareholder meeting. The investor wants BEA&#39;s board to hold an auction sale, at which shareholders could consider offers from the highest bidder.To that end, Oracle did not rule out further bids in a statement released Sunday: &quot;The BEA shareholders should not assume that Oracle will renew its $17 per share offer in the future. Over time many things can change: BEA&#39;s business might materially weaken, the stock market can fall further from its recent record highs, or Oracle may have committed its capital elsewhere.&quot;BEA users have speculated over what might happen to the company&#39;s middleware technologies, should a sale to Oracle or another party go through.BEA&#39;s stock was trading at about $16.70 per share midday Monday.
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A pullback in commercial property lending has raised questions about whether a recent surge in real estate investment trust buyouts signaled a peak for private equity funds.
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Alex Yemenidjian, chairman of MGM and Kirk Kerkorian's right-hand man, ponders life after MGM, which was recently sold for $5 billion.
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Liverpool Football Club may receive its third offer of investment in six months after a Hollywood producer said he is considering a bid for English soccer&#39;s most successful team.
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Business & money: Cable company says it has received a takeover bid and is considering potential sale.
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Shares of Blockbuster Inc. BBI.N  were sharply higher on Thursday after Hollywood Entertainment's  chief executive said he did not think an attempt to take his  company private would succeed, which was taken as a sign  Blockbuster could prevail in its bid to buy the U.S.'  second-largest video rental chain.
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Video rental giant Hollywood Entertainment Corp. has agreed to a buyout offer of about $850 million from smaller rival Movie Gallery Inc. in a deal that would create a stronger challenger to the industry leader Blockbuster Inc.
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The nation&#39;s leading chain of video rental stores has raised the stakes on Hollywood Entertainment Corp. (NASDAQ: HLYW). Dallas-based Blockbuster Inc.
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Shares of Hollywood Entertainment Corp. (HLYW.O: Quote, Profile, Research) rose sharply on Friday on mounting speculation that the No.
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Shares of Hollywood Entertainment (HLYW:Nasdaq - news - research) were among the Nasdaq&#39;s winners Thursday, rising 11% after rival Blockbuster (BBI:NYSE - news - research) said that it would like to buy Hollywood Entertainment for about $700 million.
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The top executive at Navistar  International Corp.  signaled on Friday that the  company, which has been struggling to get its finances in  order, was open to buyout offers.
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Lazard's board was meeting in Paris on  Tuesday to consider a share sale that could end more than 150  years of private ownership at the largest remaining independent  investment bank and buy out its founding families.
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Some investors may think a buyout lies ahead for NovaStar Financial.
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On Monday, billionaire Kirk Kerkorian sold Metro-Goldwyn-Mayer Inc. for the third time. As a Hollywood reconciliation story, that means Kerkorian has bought and sold the venerable movie studio more times than Elizabeth Taylor married Richard Burton.
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Shares of Hollywood Entertainment Corp. rose sharply on Friday on mounting speculation that the No. 2 U.S. movie rental chain could get rival bids topping Blockbuster Inc.'s offer to buy the company for about &#36;700 million.