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Monday, June 16, 2014

GTECH says in talks to purchase International Game Technology, (NYSE: IGT)

Italian lottery operator GTECH said on Monday it was in preliminary talks to purchase Las Vegas-based slot machine maker International Game Technology . "This transaction could potentially involve the use of a mix of cash and equity as consideration," GTECH said, adding it did not anticipate needing a cash call to fund the acquisition.GTECH said it had hired advisers to help it in the talks.

International Game Technology (IGT) is a global gaming company specializing in the design, development, manufacture, and marketing of casino-style gaming equipment, systems technology, and game content across multiple platforms: land-based, online real-money and social gaming. Shares of IGT traded higher by 10.52% or $1.51/share to $15.86. In the past year, the shares have traded as low as $12.14 and as high as $21.20. On average, 5796010 shares of IGT exchange hands on a given day and today's volume is recorded at 27727186.