Carl Icahn has submitted a bid for Blockbuster just a few days before the video company’s bankruptcy court auction this Monday, according to the WSJ.
Blockbuster shares closed today up a huge 23%.
Numbers have not been released for Icahn’s proposed bid.
There have already been a number of bids made on the company, mostly by hedge funds, with offers around $296 million.
Dish Network also bid on it.
Wells Fargo analyst Marci Ryvicker says this could be great news for Dish Network: “We think that Blockbuster could be the way that Charlie Ergen gets content for a potential over-the-top [broadband] product – one that could end up competing with Netflix down the line. We view the potential news as a positive.”
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