Circuit City Acquires InterTAN

On May 12, 2004, Circuit City Stores, Inc., of Richmond, VA, announced the completion of its tender offer for all the outstanding shares of common stock of InterTAN, Inc., a Delaware corporation listed on the NYSE and the TSX, which operates through approximately 990 company retail stores and dealer outlets in Canada under the trade names RadioShack®, Rogers Plus® and Battery Plus®. Circuit City offered to pay US$14 per InterTAN common share, or approximately US$286 million. Following the completion of the initial and subsequent offering periods, approximately 96 per cent of InterTAN’s outstanding shares were tendered. Circuit City acquired the remaining InterTAN shares through a short-form merger in which each share of InterTAN common stock was converted into the right to receive US$14 in cash. The merger was carried out on May 19. The takeover was carried out in Canada pursuant to National Instrument 71-101 the Multijurisdictional Disclosure System.

Circuit City was represented in the US by its in-house counsel that included Stephen Cannon, general counsel and Richard Kay, assistant general counsel; and by McGuireWoods in Richmond, with a team that included Michael Jones, Karl Strait and Eric Smith (corporate), Steve Kittrell (executive compensation), Howard Feller (competition) and Robert McElroy (tax). Circuit City was represented in Canada by Davies Ward Phillips & Vineberg, with a team that included Maryse Bertrand, David Torralbo, Lloyd Perry Feldman and Marie-Christine Lemerise (corporate), Samuel Minzberg (corporate and tax), Nathan Boidman, Alan Shragie and Fred Purkey (tax) and Hillel Rosen and Mark Katz (competition).

InterTAN was represented in-house by Jeffrey Losch, general counsel, and, in the US, by Thompson & Knight of Dallas, with a team that included Fred Fulton, Michael Titens, Amy Curtis and Becca Henley (corporate), William Schuerger (competition) and John Cohn and Kate Denham (tax). InterTAN was represented in Canada by Osler, Hoskin & Harcourt, with a team that included Jean Fraser, Geoff Taber, Paolo Berard, Ali Kermalli and Derek Smith (corporate), David Tetreault and Timothy Hughes (tax) and Michelle Lally and Kevin Ackhurst (competition).