Global Sports completes FogDog acquisition

Global Sports Inc., a developer and operator of e-commerce businesses, completed its acquisition of Fogdog, Inc., following approval of the transaction by Fogdog shareholders. Under the terms of the transaction, Fogdog shareholders will receive 0.135 of a share of Global Sports common stock for each outstanding share of Fogdog common stock. Approximately five million shares of Global Sports common stock will be exchanged for all outstanding shares of Fogdog. Global Sports will also assume all outstanding options and warrants to purchase shares of Fogdog common stock.