Gateway up on Acer bid talk
Cows ripe for milking
Gateway's shares have lifted eight per cent over the past few days as word spreads of a possible takeover bid from Taiwan's Acer.
ThinkEquity analysts spoke of strong indications Gateway is to be targeted after JT Wang, chairman and chief executive of Acer, said last week the company was "hoping to make an acquisition this year".
An Acer spokesperson told The Reg today that talk of a possible takeover bid was at this stage "pure speculation".
Gateway shares are currently trading at $2.40 on the New York Stock Exchange, setting close to a 52-week high for the California-based computer firm.
This is the second time in a year that Gateway has been the subject of bid speculation. Last August, Gateway's board of directors rejected eMachines' founder Lap Shun Hui's offer to buy its retail business for $450m. His bid came just two years after he sold eMachines to the struggling Gateway.®