Acer completes Gateway deal - PC Retail

Acer completes Gateway deal

NYSE informed that shares in US vendor to cease trading on October 16th
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Acer has announced in an official statement that it expects to complete the purchase of US PC vendor Gateway on October 16th.

The news comes just days after it was announced that Gateway had completed the purchase of European PC vendor Packard Bell from its parent company.

The company, in a statement to the New York Stock Exchange, said that it obtained 90 per cent of all remaining shares, now allowing it to forcibly purchase the remainder. It also informed the exchange that Gateway would cease trading on it from that date.

In a separate statement, the company announced it had borrowed $607.2 million from the Citibank Group in order to complete the purchase of Gateway.

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