Make Homepage | Add To Favorites | Print Page | Submit News | Feedback | Contact | 

Your Technical Computer Information Resource!  

  Technical Updates @ TACKtech Corp.  

11.02.2004 - Gateway Reaches Agreement With America Online to Repurchase Gateway Stock

View Gateway related news. IRVINE, Calif., Nov. 2 /PRNewswire-FirstCall/ -- Gateway, Inc. (NYSE: GTW) announced today that it has reached an agreement with America Online, Inc., a subsidiary of Time Warner Inc., to repurchase the Gateway Series A and Series C preferred stock and up to 2.7 million shares of common stock currently held by AOL for an aggregate purchase price of $315.6 million. Closing is scheduled for December 22, 2004. The securities to be retired consist of the Series A preferred stock, which otherwise would have automatically converted into approximately 22.2 million shares of Gateway common stock (based on a minimum conversion price of $8.99 per share), and the Series C preferred stock, which has a stated value of $200 million (and is redeemable at AOL's option in December 2004).

- View Press Release
- Visit Gateway, Inc.

NID: 4453 / Submitted by: TACKtech Team
Categories: Press Release
Most recent Gateway related news.
Gateway Kicks Up Chic Styling on Revamped Gateway ID and Gateway NV Series Notebook Lines
Gateway Debuts New NV Series Notebooks With Latest AMD Processors
Gateway Updates Its Desktop PCs with Powerful New Intel Technology, NVIDIA Graphics and New Designs with Smart, User-Friendly Features
Gateway Named as CES Innovations 2011 Design and Engineering Award Honoree
Gateway Expands Its Sleek and Popular Line of All-in-One PCs, Adding More Models and a New Industrial Design
View archive of Gateway related news.
  Popular Tech News  
  Most Viewed News  
  Top Affiliates