GameStop Corp and Electronics Boutique Holdings Corp. announced yesterday that stockholders at separate company meetings approved business combination between the two companies.
The companies plan on closing the deal on October 8, and will resume trading of the new joint Class A and Class B common stock (GameStop Corp.) on October 10 on the New York Stock Exchange under the symbols ?GME? and ?GME.B?, respectively.
?We are proud of Electronics Boutique employees, whose world-class capabilities have enabled us to deliver outstanding performance,? said Jeffrey Griffiths, President and Chief Executive Officer of Electronics Boutique Holdings Corp. ?As we become one organization, I am also pleased that our stockholders will have the opportunity to participate in GameStop?s continued long-term growth in this fast-growing specialty retail sector.?
?This merger combines two of the fastest-growing video game retailers and positions GameStop for long-term leadership domestically and internationally,? indicated R. Richard Fontaine, Chairman and Chief Executive Officer of GameStop. ?Bringing together GameStop and Electronics Boutique creates a wealth of growth opportunities, as well as important cost and selling synergies maximizing stockholder value.?