Just about a week ago, we reported that Hot Topic was on the verge of buying Thinkgeek. Now it looks like Gamestop has swooped in and outbid them for the win. While Hot Topic was offering to pay a little over $17 a share for the company, Gamestop is offering a whopping $20!
The purchase between Hot Topic and GeekNet, ThinkGeek’s parent company, was seen by many, including us, as a done deal. At the last minute, however, it appears that GameStop stepped in with a better offer, pledging to buy the company’s shares for $20 a pop — compared to the $17.50 price Hot Topic had agreed. As part of the deal, Hot Topic will receive a “termination fee,” the value of which hasn’t been disclosed