Fruit basket turnover… Acer buys Gateway, Gateway buys Packard-Bell
from PCWorld: Acer to Acquire Gateway in $710 Million Deal
Acer plans to acquire Gateway in a deal worth $710 million that Acer says will make it the world’s third-largest PC vendor.
Under terms of the agreement announced Monday, Acer will purchase all of Gateway’s outstanding shares for $1.90 per share. The deal has already been approved by the boards of directors at both companies and should be completed by the end of this year, subject to government approval, Acer said in a statement. Gateway’s shares ended at $1.21 Friday on the New York Stock Exchange.
from BetaNews: Acer + Gateway + Packard Bell to Create Global PC Powerhouse
As officials from all three major companies involved confirmed to the press during the overnight hours in North America, global #3 PC manufacturer Acer has reached an agreement to acquire Gateway, America’s #3 manufacturer, for $710 million. And in a possibly contingent move, Gateway will use some of that immediate cash infusion to exercise its right to preclude Lenovo from acquiring Packard Bell from California investor Lap Shun Hui, who purchased it from NEC just last year.