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Stock Market & Financial Investment News

News Breaks
July 10, 2014
11:21 EDTMGAM, CG, SGMS, APO, BYI, IGTInternational Game Technology rises as GTECH reportedly prepares bid
Shares of International Game Technology (IGT) are higher this morning after a press report said the company will soon get an acquisition offer from GTECH. 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. WHAT'S NEW: Citing La Repubblica, Bloomberg reported that IGT is on the verge of receiving an offer from GTECH, an Italian lottery operator. The offer is said to be worth about $4B in cash and stock. WHAT'S NOTABLE: IGT hired Morgan Stanley to explore a sale of the company on June 9, Reuters reported, citing sources familiar with the matter. In addition to GTECH, the company has reportedly attracted interest from Apollo Global (APO), Carlyle Group (CG) and MacAndrews & Forbes. On June 16, GTECH confirmed exploratory talks with IGT and said it had engaged advisors to assist it in exploring a potential transaction with IGT. PRICE ACTION: International Game Technology is trading up 39c, or 2.6%, to $15.50 in late-morning trading, after being up nearly 6% earlier. OTHERS TO WATCH: Shares of peer IGT Bally Technologies (BYI) are down fractionally, while Scientific Games (SGMS) is down about 0.4% to $10.08. Shares of Multimedia Games (MGAM), which also designs and manufactures gaming machines, are down about 1.8% to $28.18.
News For IGT;APO;CG;BYI;SGMS;MGAM From The Last 14 Days
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November 20, 2014
18:21 EDTBYIOn The Fly: After Hours Movers
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17:19 EDTBYIWestern Refining to replace Bally Technologies in S&P 400 as of 11/24 close
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16:05 EDTSGMS, BYIScientific Games receives NGC approval for merger with Bally Technologies
Scientific Games (SGMS) announced that the Nevada Gaming Commission, or NGC, unanimously approved the company's pending acquisition of Bally Technologies (BYI). The Commission's approval was the final regulatory approval required to complete the merger. The company expects to complete the Bally merger on November 21, subject to the satisfaction of the remaining customary closing conditions.
November 19, 2014
10:34 EDTIGTOptions with increasing implied volatility
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08:12 EDTBYI, SGMSBally Technologies investors approve merger agreement with Scientific Games
Bally Technologies (BYI) announced that at a special stockholders’ meeting held yesterday, Bally stockholders approved the previously announced Agreement and Plan of Merger, dated as of August 1, by and among the Company, Scientific Games Corporation (SGMS), Scientific Games Nevada, Inc., a Nevada corporation and a wholly owned subsidiary of Scientific Games, and Scientific Games International, Delaware corporation and a wholly owned subsidiary of Scientific Games, providing for the merger of Merger Sub with and into the company, with the company surviving the Merger as a wholly owned subsidiary of Scientific Games. More than 99.61% of the votes represented and cast at the meeting, or approximately 76.97% of the total outstanding common stock eligible to vote as of the October 20 record date, were voted in favor of the approval of the Merger Agreement. Stockholders also approved the non-binding advisory proposal regarding Merger-related compensation with a vote of more than 65.83% of the votes represented and cast at the meeting. Approval of the Merger Agreement by Bally’s stockholders satisfies one of the conditions required to close the Merger. The transaction is still subject to obtaining certain required regulatory approvals and certain other customary closing conditions.
07:37 EDTCGCitigroup to hold a conference
Global Financial Conference is being held in Singapore on November 19-20.
06:03 EDTAPOSources: KKR, CD&R team up to take PetSmart private, Reuters reports
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November 18, 2014
09:06 EDTBYI, SGMSBally Technologies to host special shareholder meeting
Special shareholder meeting to vote to approve the merger agreement between Bally and Scientific Games with Bally becoming a wholly-owned subsidiary of Scientific Games will be held at Bally's Las Vegas offices on November 18 at 6 pm.
07:29 EDTSGMSDeutsche Bank to hold a conference
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07:24 EDTAPOWells Fargo to hold a forum
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November 14, 2014
13:13 EDTSGMSScientific Games volatility increases on wide price movement
Scientific Games November call option implied volatility is at 99, December is at 96, January is at 92, April is at 77; compared to its 26-week average of 81 according to Track Data, suggesting large near term price movement.
07:32 EDTAPOHayman Capital gives quarterly update on stakes
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November 13, 2014
18:21 EDTAPOHostess Brands owners said planning sale for early next year, Bloomberg says
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12:59 EDTAPOApollo plans bid for GSK mature drugs business, Reuters reports
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November 12, 2014
18:29 EDTAPOOn The Fly: After Hours Movers
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16:47 EDTAPORexnord offers 14.73M shares of common stock for Apollo Global
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13:54 EDTCGCarlyle Group interested in Serco units for sale, Sky News reports
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11:21 EDTMGAMMultimedia Games downgraded to Hold from Buy at Stifel
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07:28 EDTCG, APOBofA/Merrill to hold a conference
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07:06 EDTMGAMMultimedia Games reports Q4 EPS 12c, may not compare to consensus 30c
Reports Q4 revenue $50.5M, consensus $54.76M. Financial results for the three and twelve month periods ended September 30, 2014 include a pre-tax impact of $6.6 million in selling, general and administrative expenses related to acquisition costs and expenses associated with both the pending acquisition of Multimedia Games (MGAM) by GCA (GCA) and Multimedia Games’ recent acquisition of PokerTek
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