Post by wittzo on Apr 23, 2005 8:07:53 GMT -6
It was already hard to tell them apart. One bought used computer games, the other didn't. Slight difference in prices. Their stand alone retail stores are nearly identical.
www.1up.com/do/newsStory?cId=3139724
EB Games, GameStop Merging
Major retailers combine forces.
by Patrick Klepek
04/18/2005
Electronics Boutique Holdings Corp and GameStop Corp. have announced plans to merge the companies. The combined company will be named GameStop Corp., stretching over 3,200 stores located in the United States and nearly 600 worldwide.
Based on the press release, both companies appear happy with the agreement. "This is an exciting transaction for everyone involved - our customers, our shareholders, and our two companies," said R. Richard Fontaine, GameStop's chairman and CEO. "We are merging these two companies from a position of strength. Each organization is performing very well now, and we will be able to do more together by extending geographic reach, improving customer service, and continuing our aggressive store growth plans."
"Our focus at Electronics Boutique has been to be a leading global retailer of video games and by combining our company with GameStop, we are taking further strides towards reaching that goal," said Jeffrey Griffiths, Electronics Boutique's president and CEO.
Current Electronic Boutique shareholders will receive $38.15 in cash, plus the equivalent of 0.78795 shares of GameStop Class A common stock for each share of Electronics Boutique. GameStop will fulfill payment of the cash portion through the issuance of $950 million in senior bonds and excess cash.
www.1up.com/do/newsStory?cId=3139724
EB Games, GameStop Merging
Major retailers combine forces.
by Patrick Klepek
04/18/2005
Electronics Boutique Holdings Corp and GameStop Corp. have announced plans to merge the companies. The combined company will be named GameStop Corp., stretching over 3,200 stores located in the United States and nearly 600 worldwide.
Based on the press release, both companies appear happy with the agreement. "This is an exciting transaction for everyone involved - our customers, our shareholders, and our two companies," said R. Richard Fontaine, GameStop's chairman and CEO. "We are merging these two companies from a position of strength. Each organization is performing very well now, and we will be able to do more together by extending geographic reach, improving customer service, and continuing our aggressive store growth plans."
"Our focus at Electronics Boutique has been to be a leading global retailer of video games and by combining our company with GameStop, we are taking further strides towards reaching that goal," said Jeffrey Griffiths, Electronics Boutique's president and CEO.
Current Electronic Boutique shareholders will receive $38.15 in cash, plus the equivalent of 0.78795 shares of GameStop Class A common stock for each share of Electronics Boutique. GameStop will fulfill payment of the cash portion through the issuance of $950 million in senior bonds and excess cash.