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Wednesday, July 16, 2014

Italy GTECH agrees to purchase U.S. IGT for $4.7 bln, (NYSE: IGT)

Italy's GTECH said on Wednesday it had agreed to purchase Las Vegas-based slot machine maker International Game Technology for $4.7 billion in a cash and stock deal that is one of this year's biggest United States acquisitions by an Italian firm. GTECH, the world largest operator of lotteries, said the aggregate transaction value was around $6.4 billion, inclusive of $1.75 billion in existing IGT net debt.

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 remained unchanged at $15.50. In the past year, the shares have traded as low as $12.14 and as high as $21.20. On average, 6654640 shares of IGT exchange hands on a given day and today's volume is recorded at 5606870.