Dewey Reps EBay In $2.4B GSI Commerce Buy

Law360, New York (March 28, 2011, 3:19 PM EDT) -- Online shopping giant eBay Inc. said Monday it had agreed to shell out $2.4 billion to pick up e-commerce and interactive marketing services company GSI Commerce Inc. in an effort to increase its business with brands and retailers.

The cash-and-debt deal is expected to close in the third quarter of 2011, and the $29.25 per-share purchase price represents a 51 percent premium over GSI's closing price on Friday, according to eBay.

Under the terms of the transaction, which is still subject to regulatory and GSI shareholder...
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