GSI Commerce Inc.'s (GSIC) 40-day "go-shop" period ended without
any alternative proposals to eBay Inc.'s (EBAY) acquisition
bid.
EBay agreed in March to buy e-commerce company GSI for $2.4
billion in cash and debt in a move that would extend the Internet
auction pioneer's reach into larger brands and retailers and make
it a bigger rival to Amazon.com Inc. (AMZN).
GSI shareholders will vote on the sale during a June 17 special
meeting.
The deal has cleared the Federal Trade Commission's mandatory
waiting period, and is expected to close by the end of the second
quarter.
EBay reported last month its first-quarter earnings rose 20% as
adjusted earnings edged above its guidance and revenue rose
16%.
In March, GSI said its fiscal first-quarter loss widened, though
revenue rose 19%.
In recent premarket trading, GSI shares edged down 0.3% to
$29.06, while shares of eBay slipped 0.2% to $32.65.
-By Melodie Warner, Dow Jones Newswires; 212-416-2283; melodie.warner@dowjones.com