GameStop scores $950M via offering

Retailer is successful in raising cash to fund Electronics Boutique acquisition.


GameStop Corp. said today it had successfully completed an offering to the investment community that raised $950 million aggregate principal via Senior Float Rate Notes and Senior Notes. The proceeds will be used to pay the cash portion of the merger consideration, or cost, to acquire Electronics Boutique Holdings Corp. The two companies announced a merger in April 2005. The transaction is still subject to stockholder approval, which is scheduled to take place in a joint shareholder meeting on October 6, 2005.

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