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Gamestop/EB Merger Goes Forward October 31

Posted by Zonk on from the not-a-bad-haul dept.

Gamasutra reports that the fund raising we mentioned recently was successful; Gamestop has raised more than $900 Million for the merger with Electronic Boutique. Further, the deal is set to go forward at the end of this month. If it doesn't, the funds will be returned. From the article: "The gross proceeds of the offering were placed into escrow and will be released to the issuers, less applicable discounts, in connection with the closing of the business combination. In the event the business combination does not close by October 31, 2005, the notes will be redeemed."

5 of 18 comments (clear)

  1. I can't wait by Daysaway · · Score: 5, Insightful

    Until there is only one chain I can buy/sell/trade with, driving the price of pre-played games through the roof. Currently, being able to pick up a copy of a 6 year old title up for less than $5 is blasphemy! The data hasn't eroded, and the game still plays the same as it did then! Why not charge slightly less than retail for it?

    TGF Ebay.

    --
    Colonel Cranium this is Rectal Reconnaissance, we are on a collision course sir, Abort Abort!
    1. Re:I can't wait by snuf23 · · Score: 3, Insightful

      Well where I live, the local Software Etc. and Gamestop usually charge $5 over the normal retail cost for new games. Then for the used ones they take $5 off their regular price. So used new games are regular retail cost.
      Gotta love it.

      --
      Sometimes my arms bend back.
    2. Re:I can't wait by Gothic_Walrus · · Score: 2, Insightful

      You know, eBay, pawn shops, and garage sales are going to be around for years to come.

      --
      Goo goo g'joob.
  2. This could be good near me by aztektum · · Score: 3, Insightful

    If it leads to consolidation to reduce overlap, then either the EBX or Gamestop in the mall will close, leaving only the local, privately owned "mom n pop" shop and one of the chain stores within a 10 mile area. Can only help the aformentioned local guy who I shop through.

    --
    :: aztek ::
    No sig for you!!
  3. My mall has both Gamestop and EB... by volpone · · Score: 3, Insightful
    I wonder what this merger will mean to malls such as mine. Will they shut down the EB outlet? At the very least, we will lose the healthy price competition between the two local stores.

    Volpone