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Did Gateway buy eMachines?

post #1 of 6
2/4/04 at 1:50am
Thread Starter 
I was told the other day that Gateway bought eMachines. Is this true?
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post #2 of 6
2/4/04 at 1:56am
Yes. But question lies in how the merger can improve gateway as it keep slipping furhter and further into the abyss
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post #3 of 6
2/4/04 at 7:00am
Quote from USA Today:

Gateway said Friday that it plans to buy rival eMachines for $235 million in cash and stock. That news sent Gateway shares up 63 cents, or 15%, to close at $4.72. The deal will make Gateway the No. 3 player in the U.S. PC market, the companies say.
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post #4 of 6
2/4/04 at 11:31am
It hasn't happened yet. Gateway has only planned, but not bought.
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post #5 of 6
2/4/04 at 5:37pm
The shares plummeted right to where it was at.
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post #6 of 6
2/5/04 at 7:50pm
Not yet - Gateway has only announced its intention to acquire eMachines. They still have to get approval from the antitrust authorities, which takes at least 30 days. Assuming no issues from that review (or with the Gateway shareholders), the deal would likely close in early-mid March.
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