US: GameStop completes acquisition of Geeknet

GameStop today announced the successful completion of its acquisition of Geeknet through a tender offer to purchase all outstanding shares of Geeknet, for $20.00 per share in cash, without interest thereon and less any applicable withholding taxes. Following the completion of the Offer to purchase all outstanding shares of Geeknet for the Offer Price, GameStop acquired all remaining Geeknet shares through a merger without a vote or meeting of Geeknet’s stockholders pursuant to Section 25 of the General Corporation Law of the State of Delaware.

Paul Raines, chief executive officer of GameStop, stated, “This acquisition is another example of our on-going efforts to leverage our core competencies to diversify and expand into new and growing categories.

The collectibles category is a rapidly growing segment and Geeknet provides us with a strong consumer brand, product development expertise and meaningful vendor partnerships, all of which position us to become the market leader. We welcome the Geeknet team and their ThinkGeek brand into the GameStop family of brands.”

Full content: Sleek Money

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