Fry's Electronics Inc. offered to buy Internet retailer Cyberian Outpost Inc. for $22.2 million or more in cash, saying its proposal is superior to one made by PC Connection Inc. San Jose-based Fry's said in a regulatory filing that it's prepared to pay 70 cents a share for the operator of the Outpost.com Web store.
Merrimack, N.H.-based PC Connection agreed in May to buy Cyberian Outpost for 40 cents to 82 cents a share in stock, or as much as $25.9 million. The final price will be based on a formula taking into account PC Connection's stock price and Cyberian Outpost's revenue.
