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Ebay to acquire GSI Commerce
SAN JOSE, Calif. & KING OF PRUSSIA, Pa. -- Ebay Inc. announced that it has agreed to acquire GSI Commerce, a leading provider of e-commerce and interactive marketing services, for $29.25 a share, or total consideration of approximately $2.4 billion. The acquisition, which will be financed with cash and debt, is expected to close in the third quarter of 2011.
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Report: U.S. consumer spending up in February, economy on ‘firmer footing’
Washington, D.C. -- A report released Monday by the Commerce Department showed that consumer spending in the United States rose more than forecast in February as incomes climbed.
Bloomberg News estimated spending would advance 0.5%.
Purchases increased 0.7%, the most since October, after advancing 0.3% the prior month. Incomes increased 0.3%, less than the 0.4% projected.