LYCOS RETRIEVER 
Electronics Boutique Holdings
built 492 days ago
Under the terms of the agreement, Electronics Boutique Holdings Corp. (Electronics Boutique) shareholders will receive $38.15 in cash, plus the equivalent of 0.78795 shares of GameStop Corp. (GameStop) Class A common stock for each share of Electronics Boutique. Based on the closing price of GameStop's Class A common stock of $21.61 on Friday, April 15, 2005, the stock component of the per share merger consideration is $17.03. The total merger consideration per share of $55.18 represents a 34.2% premium to the closing price of Electronics Boutique's stock as of Friday, April 15, 2005. The total transaction value is approximately $1.44 billion with consideration consisting of approximately 70% cash and 30% common stock. GameStop intends to fund the cash portion of the transaction through the issuance of $950 million in senior bonds and excess cash.
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EB Games (Electronics Boutique Holdings Corp.)(NASDAQ:ELBO) will launch "Halo 2(R)," the successor to the largest selling Xbox game to date, at midnight on Monday, November 8th. The title will launch at more than 1,300 EB Games storefronts across the nation, giving hundreds of thousands of diehard fans the opportunity to be among the first to purchase "Halo 2" at EB Games' special "Midnight Madness" events. EB Games' premiere "Halo 2" launch event will be held at its recently opened flag ship store location on the famed Universal CityWalk in Los Angeles.
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Electronics Boutique, a sprawling retail giant, was created by James Kim, a native of South Korea whose early career was spent learning and teaching the principles of business, not practicing them. Born in Seoul in 1936, Kim began training for a career in law, but he never developed an interest in his studies. After attending the College of Law of Seoul for a year, he dropped out. "I never liked the law," he said years later in a November 17, 1986 interview with the Philadelphia Business Journal. A friend of his father suggested he move to the United States and attend the Wharton School at the University of Pennsylvania. Kim heeded the advice, determined to study economics so that he could help his country recover from the war he had witnessed as a teenager.
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