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MPC Corporation has signed an agreement to purchase Gateway's Professional business segment.
MPC is a PC manufacturer based in Nampa.
The transaction is valued at about $90 million, according to a statement from MPC.
MPC will pay Gateway $20 million in common and preferred stock, giving Gateway a 20 percent stake in MPC. MPC will also pay Gateway $10 million in cash and assume warranty and other obligations from Gateway, estimated at approximately $60 million.
MPC must still raise $9 million to close the deal.
MPC has been unable to turn around a long period of financial difficulty. The company has gone through two different owners while earnings have continued...