CompUSA Announces Good Guys Acquisition.Business Editors/High-Tech Writers DALLAS--(BUSINESS WIRE)--Sept. 29, 2003 CompUSA today reached an agreement to acquire California-based consumer electronics chain, Good Guys Inc., (Nasdaq:GGUY). Good Guys currently operates 71 stores throughout California California (kăl'ĭfôr`nyə), most populous state in the United States, located in the Far West; bordered by Oregon (N), Nevada and, across the Colorado River, Arizona (E), Mexico (S), and the Pacific Ocean (W). , Nevada, Oregon and Washington. CompUSA will purchase all outstanding Good Guys stock for $2.05 per share in cash. "This deal dovetails perfectly with our long-term technology convergence strategy," commented CompUSA CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. , Hal Compton. "At CompUSA, we're currently expanding our merchandise mix to include the latest entertainment technology. The acquisition of Good Guys is an exciting piece to our long-term growth game plan. We want to offer the seamless technology solutions our customers' lifestyles demand and, with Good Guys' solid reputation in delivering high-end entertainment technology, our offering just becomes that much stronger. Good Guys owns a niche that's highly complementary with our own." If approved by Good Guys' shareholders and regulatory authorities Noun 1. regulatory authority - a governmental agency that regulates businesses in the public interest regulatory agency administrative body, administrative unit - a unit with administrative responsibilities , the transaction will be funded by cash available at U.S. Commercial (USCOMB1.MX), CompUSA's parent company. The resources needed for the acquisition, along with additional capital, will be infused into CompUSA by U.S. Commercial. CompUSA Inc. is one of the nation's leading retailers and resellers of technology products and services. CompUSA currently operates 226 CompUSA Superstores This is a list of superstores by country. Multi-national
as·sort·ment n. of over 80,000 items at www.compusa.com. |
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