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Electronics Production |

Gateway to acquire Packard Bell B.V.

Gateway has delivered a binding offer to acquire all of the shares of PB Holding Company S.à.r.l. from Lap Shun (John) Hui and Clifford Holdings Limited, an entity controlled by Hui. Hui currently owns a 75 percent interest in PB Holding, the parent company of Packard Bell B.V., a European PC vendor based in Paris.

Under the terms of the binding offer delivered by Gateway to Hui and Clifford dated October 4, 2007, the parties have agreed to work together in consultation with the Works Councils in France and the Netherlands and to secure antitrust and other regulatory approvals required for the signing and closing of the transaction. Hui and Clifford have also agreed to exclusivity arrangements and to exercise certain drag-along rights relating to the remaining outstanding shares of PB Holding. Acer Inc. has agreed to fund Gateway's acquisition of PB Holding and Packard Bell in connection with the planned merger between Acer and Gateway announced on Aug. 27, 2007. This transaction is subject to regulatory approvals and is anticipated to close sometime in the fourth quarter of 2007 or the first quarter of 2008

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March 28 2024 10:16 am V22.4.20-2
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