GameStop Beats Out Hot Topic In Bid To Buy ThinkGeek

June 2, 2015

gamestop-buying-thinkgeek.jpg

Well it seemed like the fat lady had already sung and was headed to get a sandwich when I reported Hot Topic was buying ThinkGeek last week, but it appears GameStop has swooped in like some kind of eagle that only gives me $3.29 trade-in on most of my used games and claimed the deal for themselves. BONUS FUN FACT: that's my local GameStop in the picture where my friends and I meet and loiter after school.

The purchase between Hot Topic and GeekNet, ThinkGeek's parent company, was seen by many, including us, as a done deal. At the last minute, however, it appears that GameStop stepped in with a better offer, pledging to buy the company's shares for $20 a pop -- compared to the $17.50 price Hot Topic had agreed. As part of the deal, Hot Topic will receive a "termination fee," the value of which hasn't been disclosed

So, you think this deal will go through, or will SOMEBODY ELSE step forward and offer even more money? Because I just called ThinkGeek and told them I'd give them $25 a share for all their stock but when they asked what my name was I told them it was Jimmy Buffet and hung up. Just for the record though, I meant to say Warren Buffet but I got nervous.

Thanks to Stephanie A and johnny, who agree this whole thing has just been a roller coaster of emotions. I just want to get off so I can puke on solid ground.

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