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Electronics Boutique/GameStop Merger Almost Complete - Some Interesting Financial Facts @ Neowin

Posted by Kristophe @ Wednesday - October 05, 2005 - 17:06 -
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More of a "Blog" than anything else, still this piece of news from Neowin's Todd Tanner does reveal some interesting financial aspects to the EB/GameStop merger (and does seem to confirm some of the things I had personally heard of)...

According to Gamepro.com the mega-merger between Gamestop and Electronics Boutique is about to be completed on October 31st.

After getting an investor offering of $950M USD, Gamestop went ahead with the merger plans. On September 27th, Gamestop sold an estimated $300M USD in Senior Floating Rate Notes and an additional $650M USD in Senior Notes. This comprises the $950M USD investor offering. This was a limited time offer, with promises should the merger fail, all notes would be redeemed by the end of October.

The merger between these two retailers, will create the 2nd largest retailer of software titles in North America. Second only to Wal-Mart itself. It will control roughly 25 to 30% of the market, along with a sizeable amount of stores based in Europe where the new company plans to begin an aggressive expansion.
Source: Blues
 
 
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