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GameStop And Electronics Boutique Merge

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Moriendor
Black Ring Leader

Joined: 19 Jul 2001
Posts: 1306
Location: Germany

GameStop And Electronics Boutique Merge

Now this is definitely a "big deal", literally

. Check the full press release right <a href="http://home.businesswire.com/portal/site/google/index.jsp?ndmViewId=news_view&newsId=20050418005419&newsLang=en" target="_blank">here</a>...<blockquote><em>GameStop Corp. (NYSE:GME; GME.B) and Electronics Boutique Holdings Corp. (Nasdaq:ELBO) today announced that they have entered into a definitive agreement and plan of merger. The combined company, to be named GameStop Corp., will be a leading global video game retailer with annual revenues of approximately $3.8 billion, with over 3,200 stores located in all 50 United States, the District of Columbia, and Puerto Rico, as well as nearly 600 international stores located throughout Australia, Canada, Denmark, Germany, Ireland, Italy, New Zealand, Norway and Sweden. <br> <br>Under the terms of the agreement, Electronics Boutique Holdings Corp. (Electronics Boutique) shareholders will receive $38.15 in cash, plus the equivalent of 0.78795 shares of GameStop Corp. (GameStop) Class A common stock for each share of Electronics Boutique. Based on the closing price of GameStop's Class A common stock of $21.61 on Friday, April 15, 2005, the stock component of the per share merger consideration is $17.03. The total merger consideration per share of $55.18 represents a 34.2% premium to the closing price of Electronics Boutique's stock as of Friday, April 15, 2005. The total transaction value is approximately $1.44 billion with consideration consisting of approximately 70% cash and 30% common stock. GameStop intends to fund the cash portion of the transaction through the issuance of $950 million in senior bonds and excess cash.</em></blockquote>

Tue Apr 19, 2005 12:51 pm

Guest

Where are our supposed competition regulators when we need them? This merger should be blocked. Next they'll merge with Wal-Mart - one big fucking giant retailer deciding what gets shelf space. Hurrah.

Tue Apr 19, 2005 1:08 pm

araczynski
Eager Tradesman

Joined: 03 Apr 2002
Posts: 48

both stores suck, so i could really care less that the 2 piles merge.

i've been buying from gogamer.com for years, they beat the 2 lamers about 95% of the time in terms of price/deals.

Tue Apr 19, 2005 1:15 pm

Raldor
Keeper of the Gates

Joined: 27 Sep 2001
Posts: 107

I have to agree with araczynski on this. EB and Gamestop already seemed like almost exactly the same store to me so it doesn't really matter. The only time I ever shop there is if I must have a game the first day of its release and the other stores don't have it. Places like Best Buy, CompUSA, Circuit City, etc have games go on sale pretty much every week for $5-$15 off. I don't think I've ever found a new game at EB for less than its regular price so why bother. And I also agree about Gogamer.com. It's my favorite place of all to get games.

Wed Apr 20, 2005 7:08 am

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