Davis Polk & Wardwell is advising Banc of America Securities LLC as financial adviser and dealer manager of a tender offer commenced by Circuit City Stores, Inc. to acquire InterTan Inc. Circuit City is a Richmond-based electronics retailer. InterTan is a Canadian consumer electronics chain that operates more than 980 stores and dealer outlets in Canada under the RadioShack, Rogers Plus and Battery Plus names.
According to the terms of the tender offer, Circuit City is offering $14 per InterTan share, valuing the transaction at approximately $284 million. The tender offer is set to expire May 11, 2004.
The Davis Polk corporate team includes partner Leonard Kreynin and associates William J. Chudd and Zhen Xing. All lawyers work in the New York office.