GSI Commerce Announces End of "Go-Shop" Period, Early Termination of Antitrust Waiting Period and Record Date (GSIC)

GSI Commerce, Inc. GSIC today announced the expiration of the 40 day “go-shop” period pursuant to the terms of the previously announced merger agreement, entered into on March 27, 2011, among GSI Commerce, Inc., eBay and Gibraltar Acquisition Corp., a wholly owned subsidiary of eBay. Under the merger agreement, the Company and its representatives had the right to solicit alternative acquisition proposals from third parties until 11:59 p.m. California time on May 6, 2011, a period of 40 calendar days after the execution of the merger agreement. During the “go-shop” period, Morgan Stanley & Co. Incorporated, the Company's financial advisor, contacted numerous potential acquirers that the Company and Morgan Stanley believed might have been interested in an alternative transaction to the merger with eBay. The Company did not receive any alternative acquisition proposals prior to the expiration of the “go-shop” period.