Wednesday, August 23, 2006

Gateway Receives Bid After Hedge Fund Shines Spotlight

In just two days’ time, a hedge fund has managed to do for Gateway what its own earnings reports, pledges of growth in new markets and new C.E.O. haven’t been able to do for months: get investors to once again take notice of the nation’s No. 3 personal-computer company.
On Tuesday, shares of Gateway shares climbed as much as 12 percent after the disclosure by hedge fund Harbert Management that it has acquired 10.2 percent of Gateway’s outstanding stock.
And late Tuesday, Gateway said it received an unsolicited inquiry to acquire its retail operations from Lap Shun (John) Hui, owner of Joui International and a former owner of e-Machines.

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