The E-Sylum:  Volume 7, Number 8, February 22, 2004, Article 3

BOWERS & MERENA LIBRARY & AUCTIONS SOLD

  On February 19th, Greg Manning Auctions published a press
  release detailing some recent acquisitions:

  "Greg Manning Auctions, Inc. (Nasdaq: GMAI) has acquired
  the business assets of Bowers and Merena Galleries,
  Kingswood Coin Auctions and Superior Sports Auctions from
  Collectors Universe, Inc. (Nasdaq: CLCT).  The total purchase
  price paid by GMAI for the combined assets was $2.5 million.
  The three auction houses and retail coin galleries are projected
  to add $30 million in aggregate sales to GMAI's fiscal year 2005.
  The acquisition was an all-cash transaction and will be financed
  internally.   Spectrum Numismatics International, GMAI's wholly
  owned subsidiary, will administer the new companies through
  GMAI's coin division, headed by Spectrum President Greg
  Roberts."

  "The acquisition from Collectors Universe also gives GMAI
  the rights to all previous Bowers and Merena publications, as
  well as its extensive numismatic library, which includes several
  thousand books and periodicals."

  Thanks to John and Nancy Wilson for providing the URL:
  Complete Story

  Wayne Homren, Editor

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