By Lisa Foster
US games retail giants Gamestop and Electronics Boutique have today announced that they are in merger talks.
In a move that effectively sees Gamestop acquire EB, the two chains will merge under the combined company name Gamestop Corp, covering over 3,200 stores in the US and nearly 600 sites internationally.
The deal will see EB shareholders receive $38.15 in cash, plus the equivalent of around 0.79 shares of Gamestop stock, for each Electronics Boutique share. Gamestop plans to fund the cash portion of the transaction by issuing $950 million in senior bonds plus excess cash.