Lottery equipment and management specialist GTech SpA said shareholders revealing themselves as dissenters to its planned merger with U.S.-based slot machine maker International Game Technology (IGT) account for under 20 percent of GTech’s stock. Shareholders had until November 27 to sell their holdings back to GTech prior to the planned merger.
“Based on the communications received from the custodians, GTech believes that cash exit rights have been exercised for less than 20 percent of the company shares outstanding as of July 15, 2014, when the agreement for the acquisition of IGT was executed,” the firm said in a statement on Tuesday.
GTech said it would publish final details on the exercise of the so-called exit rights on December 12.
The Italian company is acquiring IGT for US$6.4 billion, comprised of US$4.7 billion in cash and stock, and the assumption of US$1.7 billion in net debt.
Following the deal, shareholders of GTech last month approved the merger of the firm into a subsidiary called Georgia Worldwide Plc.
Georgia Worldwide will become the parent holding company for the combined operations of GTech and IGT, with its registered office in London. The group will be listed in the New York Stock Exchange.
The transaction is still expected to be completed in the first half of 2015.
Jan 16, 2018Casino gross gaming revenue (GGR) in Macau’s VIP segment expanded by 21.9 percent year-on-year in the fourth quarter of 2017, according to data released on Tuesday by the local regulator, the...
Jan 16, 2018
Dec 29, 2017It could be 2024 before a casino resort is opened in Japan,...
Dec 27, 2017The year 2017 could prove to have been a turning point in...
Oct 25, 2017The deployment of radio frequency identification (RFID)...
”On gaming tables [for MGM Cotai], we are still waiting for the [Macau] government to give us our final award”
Chief executive of Macau-based casino operator MGM China Holdings