Headlines

Circuit City to Buy InterTAN

U.S. and Canada regulatory commissions sign off on the deal

Published

21 years ago

April 29, 2004

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Circuit City Stores Inc. (Richmond, Va.) has received Canadian antitrust clearance for its proposed acquisition of InterTAN Inc. (Barrie, Ont.). The U.S. Federal Trade Commission has also determined that the transaction is not subject to pre-merger antitrust review.

The U.S, consumer electronics retailer had announced last month that it had reached an agreement with InterTAN in a cash tender offer for $14 per InterTAN share. When the deal is completed, InterTAN will become a wholly owned subsidiary of Circuit City.

InterTAN sells private-label and brand-name consumer electronics products through more than 900 company-owned stores and licensed dealers in Canada. It operates under the banners RadioShack, Rogers Wireless and Battery Plus. It was formed in 1986 as a holding company for the retail operations outside the U.S. of Tandy Corp. (Fort Worth, Texas, now RadioShack) but was later spun off. InterTAN sold its UK business in 1999 and its Australian stores in 2001.

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