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Wednesday, December 10, 2014

GTECH says 11.3 percent of capital exercised merger exit right, (NYSE: IGT)

GTECH said on Wednesday that shareholders representing 11.3 percent of its share capital had exercised a withdrawal right in connection with its agreed merger with U.S. International Game Technology. In a statement the Italian gaming group said the shares stemming from the exit right exercise would be offered to its shareholders from Dec. 11 to Jan. 9, 2015.GTECH had conditioned its merger with IGT to less than 20 percent of the group's share capital exercising the right.The company also said it had further reduced the bridge loan financing the acquisition to $6 billion.

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 fell by 0.2% or $-0.035/share to $17.06. In the past year, the shares have traded as low as $12.14 and as high as $18.29. On average, 2424870 shares of IGT exchange hands on a given day and today's volume is recorded at 1214069.