IGT Receives U.S. Antitrust Approval For Acquisition By GTECH

(RTTNews) - International Game Technology (IGT) announced that it received early termination of the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 (HSR) with respect to the Company's previously announced acquisition by GTECH S.p.A.

On July 16, IGT announced that it had entered into a definitive merger agreement with GTECH S.p.A. for the acquisition of IGT by GTECH for $6.4 billion, comprised of $4.7 billion in cash and stock and the assumption of $1.7 billion in net debt. As per the terms of the transaction, IGT and GTECH would combine under a newly formed holding company organized in the United Kingdom (NewCo).

Termination of the HSR Act waiting period satisfies one of the conditions required to finalize the acquisition. The transaction is subject to additional conditions, including the receipt of foreign antitrust clearances, required gaming approvals and approval by the IGT and GTECH shareholders. The transaction is currently expected to be completed in the first or second quarter of 2015.