International casino and lottery supplier GTECH and leading slot manufacturer International Game Technology have amended the portion of their .4 billion merger agreement that relates to how IGT shareholders will be compensated.
While the aggregate amount of stock and cash to be paid IGT shareholders will remain unchanged, they will receive a combination of $13.69 in cash per share plus a number of shares in the newly formed U.K. holding company that will reside over the merged supplier. IGT shareholders were originally presented with a vote of all-stock, all-cash or a mixture of the two.
Although additional regulatory approvals are required for the change, IGT and GTECH officials say the amendment should not delay the expected closing of the merger transaction in the first half of 2015.
