Deals
GameStop to Buy Web Retailer Geeknet in $140 Million Deal
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GameStop Corp., the largest U.S. video-game specialty retailer, agreed to buy online merchant Geeknet Inc. in deal valued at about $140 million to add memorabilia that appeals to many of its current customers.
Geeknet terminated a previous agreement to be bought by Hot Topic Inc., and GameStop will reimburse Geeknet for the breakup free associated with that deal, the companies said Tuesday in a statement. The Hot Topic bid had a $122 million equity value.