Los Angeles — Although Gateway’s board of directors shot down Lap Shun (John) Hui’s attempt to purchase the company’s retail operation, Hui is not content to let the matter end.
In a written statement on Sept. 5 Hui said he is now considering what options he has left.
“I am disappointed that Gateway’s board made a decision to reject the offer without engaging in any discussions with me to either refine the terms of my proposal for the purchase of Gateway’s retail operations or to discuss alternative acquisition proposals,” Hui said.
In a short written statement the company issued last week the board 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 is managing this portion of its business and that company executives would not listen to his advice.