86% of Gateway shares endered as bid ended


Bloomberg

TAIPEI, Taiwan — Acer Inc., which agreed to buy Gateway Inc. for US$710 million to become the world’s third-biggest personal computer maker, completed its offer and said 86.09 percent of Gateway’s shares were tendered. The period in which Gateway shareholders could tender their shares ended Wednesday, Taipei-based Acer said yesterday in an e-mailed statement. The bid was extended after it had been originally set to expire on Oct. 1.

Acer received a NT$19.8 billion loan from Citibank to help finance the tender, the Taiwanese company said in a separate statement to the Taiwan Stock Exchange. The acquisition was first announced in August.