GTECH S.p.A has announced that the period during which shareholders can exercise so-called “cash exit rights” to sell their holdings back to GTECH in advance of the company’s merger with slot manufacturer International Game Technology has closed, with fewer than 20 percent of shareholders opting to sell their stakes.
Shareholders can sell their holdings back to Georgia International Plc., the British holding company into which both companies are being placed prior to offerings of shares in the newly merged supplier. GTECH is completing the matching of received cash exit right notifications with the relevant communications from custodians and currently expects to announce the final results by December 12.
GTECH 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.
