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Friday, 12 October 2007 13:36

Acer subsidiary completes Gateway tender offer

Written by David Stellmack

Image

Galaxy to merge with Gateway

 

Galaxy Acquisition Corporation, a wholly owned subsidiary of Taiwanese Acer, Inc., has successfully completed its tender offer for Gateway, Inc.

As of the expiration of the tender offer on October 10, 2007 approximately 322,931,202 shares of Gateway were validly tendered, representing approximately 86.09% of Gateway's outstanding common stock. It is expected that Galaxy will merge with Gateway, with Gateway continuing as a corporation that is an indirect, wholly-owned subsidiary of Acer.

The formal merger is expected to conclude on or about October 16, 2007.

Read more here.

Last modified on Friday, 12 October 2007 14:02

David Stellmack

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