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Monday, March 16, 2015

GTECH says British court clears merger with IGT, (NYQ: IGT)

Italian gaming company GTECH said on Monday the High Court of England and Wales had cleared its merger with International Game Technology in one of the last steps before the merger becomes effective on April 7. The new company will have more than $6 billion in pro-forma revenues, GTECH said in mid-2014 when it announced the $4.7 billion acquisition of the Las Vegas-based group.GTECH will merge into International Game Technology and the new entity will be headquartered in Britain.

International Game Technology is a global gaming company. Shares of IGT traded higher by 0.11% or $0.02/share to $17.67. In the past year, the shares have traded as low as $12.14 and as high as $18.00. On average, 2008000 shares of IGT exchange hands on a given day and today's volume is recorded at 898808.