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US: $6.4B gaming merger granted early regulatory approval

By  |  August 11, 2014

International Game Technology announced Monday that it has been granted an early termination of the waiting period for its proposed merger with GTECH.

According to reports, the end of the waiting period means that officials have approved of GTECH’s $6.4 billion takeover of IGT. The deal includes a transition of $4.7 billion in cash and stock, and the assumption of $1.7 billion in debt.

The combing gaming technology company will be based in the UK.

With regulatory approval, the transaction is one step closer to completion. Further conditions must be met, however, including the approval of shareholders from both companies. The firms said they expect to finalize the deal in the second quarter of 2015.

Full content: Stock House

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