eMachines founder seeks to buy Gateway

By Justin Mann on August 23, 2006, 1:30 PM
More news about businesses buying businesses, in a strange twist of fate the original founder of eMachines is looking to buy the current owner, Gateway. To the tune of $450 Million, Lap Shun Hui is looking to acquire Gateway in full and convert it into a privately held company. A bit disillusioned at the current condition of Gateway, Mr Hui wants to see changes made:

"I am very disappointed that Gateway has chosen not to constructively engage in discussions with me and my advisors on the proposal that I sent to you on Aug. 3," Hui wrote in a letter dated Monday. "I believe that management and the board need to adopt a sense of urgency to address Gateway's problems."
While Gateway hasn't agreed to being sold, they did mention they would consider Hui's offer. With the increasingly dismal state of their stock, a sale is probably likely. Then again, what exactly Hui intends to accomplish with Gateway and eMachines at his disposal is unknown.

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