Acer to Acquire Gateway for $710 Million
Taiwan’s Acer has announced it will buy struggling computer vendor
Gateway, in a deal worth $710 million. Acer will pay a 57% premium over the Friday closing price for Gateway stock, at $1.90 per share. This will create the world’s #3
largest PC maker.
Acer Inc. plans to acquire Gateway Inc. in a deal worth $710 million that Acer says will make it the world's third-largest PC vendor.
"This is the biggest acquisition in Acer's 30 year history," said J.T. Wang, Acer's chairman, speaking at a news conference in Taipei.
"After this acquisition, we are solidly number three in the global PC market," Wang said.
At the same time, Gateway dealt a blow to Lenovo by
announcing its intention to exercise its right of first refusal to acquire shares in Packard Bell's parent company, PB Holding Co. SARL. This is a blow to Lenovo, who had been hoping to acquire Packard Bell in an attempt to gain market share in Europe.
