eBay announced its $2.4 billion acquisition GSI Commerce in March and today the company is one step closer to its acquisition. The two companies have announced that they are settling claims filed in a Delaware state court; and GSI shareholders will be paid a settlement amount equivalent to about $0.33 a share.
The acquisition is expected to close this week, on June 17. With more than 180 customers across 14 merchandise categories, GSI has long-term commerce services relationships with a wealth of retailers and brands. eBay says it expects GSI clients to benefit from eBay’s Marketplaces and PayPal services, particularly.
The lawsuit was filed in late March by an investor, claiming that the offer was a “bargain price.”
As we wrote previously, as part of the transaction, eBay will divest 100 percent of GSI’s licensed sports merchandise business and 70 percent of ShopRunner and Rue La La.