GameStop completes geeky purchase

Grapevine, Texas – GameStop Corp. has completed a very geeky purchase. The video game chain has acquired 86% of outstanding shares of Geeknet Inc. in a tender offer that expired July 13, 2015.



GameStop Corp. purchased about 5.92 million shares for $20 per share in cash, or roughly $11.8 million. The retailer will make payment on July 17, 2015.



Following payment, GameStop will complete the acquisition of Geeknet through a merger without a meeting of stockholders. GameStop first announced its purchase of Geeknet for about $140 million in total on June 2, 2015.