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Acer subsidiary completes Gateway tender offer

by on12 October 2007


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 12 October 2007
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