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Gateway Rebuffs Hui’s Buyout Offer

Irvine, Calif. – Gateway’s board today shot down an attempt by Lap Shun (John) Hui to purchase the company’s retail operation.

In a short written statement the company said it gave Hui’s offer careful consideration, but concluded that selling the retail segment would not be beneficial to its shareholders.

Hui, founder of eMachines and a large Gateway shareholder, made an unsolicited offer of $450 million to purchase the company’s retail operation. Hui’s reasons included dissatisfaction with how Gateway’s is managing this portion of its business and that company executives would not listen to his advice.