Circuit City (CC) Spikes 10% On Strategic Options News

Circuit City Stores, Inc. (NYSE: CC) is up 10% in pre-open action following news the company retained Goldman Sachs to assist the company in exploring strategic alternatives to enhance shareholder value. Circuit City also said it will allow Blockbuster (NYSE: BBI) and Icahn to conduct additional due diligence, subject to customary confidentiality arrangement, related to Blockbuster's proposal to acquire the company.

In April, Blockbuster offered to acquire Circuit City for at least $6 per share.

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