Several bidders vying for Blockbuster

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High Five
Monday, April 04, 2011

Several people are bidding for Blockbuster Inc. at a bankruptcy auction in New York today, reportedly including billionaire investor Carl Icahn.

Icahn has made headlines in Oregon recently for his dealings with Mentor Graphics Corp.

The movie-rental chain has received several bids other than the opening bid of $290 million from a group of debtholders made in February. Blockbuster filed for Chapter 11 bankruptcy protection in September.

Icahn has been expected to make a bid. He was part of the group of debtholders that provided Blockbuster financing to operate while in bankruptcy in September. Everyone in that group, except for Icahn, made an opening bid in February, known as a "stalking horse" bid, to buy Blockbuster for $290 million.

Read more at OregonLive.com.

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