Gateway stock stops trading now that merger with Acer is complete

By Lisa Kerner

Charlotte, N.C., Oct. 17 - Acer Inc. completed the merger of its indirect wholly owned subsidiary with Gateway, Inc.

As a result, Gateway common stock ceased trading on the New York Stock Exchange at the close of business on Tuesday, according to a company news release.

It was previously reported that Acer subsidiary Galaxy Acquisition Corp. ended its $1.90-per-share tender offer for Gateway on Oct. 10. Some 322,931,202 shares, or 86.09%, of Gateway's outstanding stock were tendered in the offer.

On Aug. 27, Acer announced it would acquire Gateway, an Irvine, Calif., personal computer company, in a $710 million deal.

Acer is a branded personal computer vendor based in Taipei, Taiwan.

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