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GameStop Picks Up Electronics Boutique

4/18/2005 12:15:00 PM Eastern

Grapevine, Texas — Gaming retailer GameStop announced on April 18 that it will buy out competitor Electronics Boutique in a cash and stock deal worth an estimated $1.4 billion.

The newly combined company will operate under the GameStop name with a total of about 3,800 stores worldwide and combined sale in the range of $3.8 billion. Both company’s boards have approved the deal as have the people who have large stock holdings in each firm. The deal still must be approved by federal regulators.