RadioShack receives bids from prospective buyers

RadioShack receives bids from prospective buyers
One of the largest indirect retailers for mobile phones was noted in hiring Goldman Sachs earlier in the year to venture and tangle with the notion of looking for prospective buyers for the company. We've already heard rumors on how the company was contemplating a merger with rival retailer Best Buy, but this time around it looks like there are two suitors who are in contention for RadioShack. Private equity firm, Blackstone Group, placed a bid for the company which is reported to be valued somewhere around $3 billion – which looks to be the leading participant after last week's initial round of bids. The other company also interested in the company has yet to be announced. However, RadioShack has been making some great strides over the course of the last year as they've introduced T-Mobile to their lineup, rolled out wireless kiosks at Target locations, and brought on board the Apple iPhone. RadioShack's Chief Executive, Julian Day, looks to be adamant on selling the company as Day continues to press Goldman Sachs to hasten the auction and is willing to sell for less.

source: MarketWatch via Phonescoop

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5 Comments

1. zerglisk

Posts: 544; Member since: Feb 09, 2010

I really wonder who goes to Radio Shack to buy their electronics @@? I have only probably walked in a Radio Shack store under 5 times in my entire life lol.... and they are all for school or work

2. remixfa

Posts: 14605; Member since: Dec 19, 2008

their cell phone sales seem to do well. they have a kiosk in a mall near me that always does well. then again when you can sell tmo,sprint, and att and all their flagship phones, its hard not to sell well. sir, would you like an iphone, evo, mytouch slide, or galaxy S today? lol

3. numberonenygfan

Posts: 211; Member since: Oct 19, 2009

radioshack is garbage they have overpriced electronics and only sell connectors and circuits for nerds that take their toys apart and mod them. cell phones have driven their business for years.. if not for their cell deals i dont think anyone would even care about buying them lol ... best buy should theyd own the electronics industry completley..

4. networkdood

Posts: 6330; Member since: Mar 31, 2010

Why would they want to sell so quickly?? Why not just convert all stores to wireless only??

5. oddmanout

Posts: 443; Member since: May 22, 2009

lol i actually like radioshack. There cell phone deals are much better than best buy. Sure there inventory isnt as broad as best buy but what they do have they sell at a good price. Then again I may only like it because radioshack is the primary electronics store (besides walmart) in my neighborhood. The closest best buy to me is like 4 towns over in a hick town with tons of racist people.

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