GameStop Corp. and Electronics Boutique Holdings Corp. announced today that stockholders, at separate stockholders' meetings of both companies, approved the business combination between GameStop and Electronics Boutique.
The companies expect the business combination to close on October 8, 2005 and trading of Class A and Class B common stock of GSC Holdings Corp. (to be renamed GameStop Corp.) to begin on October 10, 2005 on the New York Stock Exchange under the symbols "GME" and "GME.B", respectively.
"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."
"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."