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By | Kelly Fiveash 21st March 2007 11:03

Gateway denies talks with Acer

Cows not going to market

Tawain's Acer is not in talks to acquire Gateway, the California-based computer maker said yesterday.

Shares in Gateway surged by up to eight per cent over the past few days as analysts speculated over comments made by Acer's chief executive, JT Wang, who said the company was looking at a possible PC industry acquisition.

Analysts at ThinkEquity had concluded that Gateway was the likely target.

But in an official statement, Gateway spokesperson David Hallisey, said: "While it is company policy not to comment on rumour and speculation, in light of continued reports surrounding Acer's plans for an acquisition in 2007, I can confirm that Gateway is not in negotiations with Acer.

"Instead, we remain focused on the business at hand and continuing to deliver high-quality products and superior service and support to our customers worldwide."

Gateway shares are currently trading at $2.38 on the New York Stock Exchange. ®

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