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Stock Market & Financial Investment News

News Breaks
February 7, 2013
08:22 EDTIGTAdler Group sends letter to IGT stockholders regarding board nominees
"Since last September, we have sought a dialogue with the IGT board regarding our concerns with IGT's operating and share price performance and how we believe we can help create value for ALL shareholders. We have had no confidence that our views--which we believe are strongly aligned with all shareholders' interests--have been considered, and we are determined to seek the support of our fellow shareholders in order to gain better representation for all of us in the boardroom. Unfortunately, in response to our efforts, our Board and management have resorted to a series of cheap personal attacks designed, in our view, simply to distract shareholders from the real issue... The Ader nominees have a forward-looking plan to refocus IGT on its core slot machine and systems business in order to increase shareholder value. As detailed in our presentation, we believe that our plan could create incremental annual EBITDA of $160M-200M with an associated upfront investment of $125M-150M."
News For IGT From The Last 14 Days
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September 23, 2014
16:11 EDTIGTInternational Game and GTECH amend merger agreement
International Game Technology and GTECH S.p.A. announced that they have amended their previously announced merger agreement dated July 15. IGT and GTECH entered into the amendment with the overall intent of improving the timing and certainty of completion of the transaction in the interests of both companies and their shareholders. The amendment relieves IGT of additional regulatory and disclosure requirements, which were expected to delay the completion of the transaction. The amendment also reflects a reduced number of required approvals from gaming regulators as a condition precedent to closing. While the aggregate amount of stock and cash to be paid to IGT shareholders has remained unchanged, the amendment eliminates the mechanism for IGT shareholders to elect all-stock, all-cash consideration, or a mixed election, subject to proration. Upon completion of the merger, all IGT shareholders will receive the mixed consideration described in the merger agreement. As previously disclosed, this consists of a combination of $13.69 in cash plus a number of ordinary shares of a newly formed U.K. holding company equal to $4.56 divided by a calculation of the dollar value of GTECH shares prior to the transaction closing, subject to adjustments and limitations set forth in the merger agreement.
06:02 EDTIGTInternational Game partners with Ellen DeGeneres Show for new video slot machine
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