GTECH has announced that the US antitrust authorities have granted early termination of the required waiting period to its acquisition of IGT.
As previously announced on July 16, 2014, GTECH and IGT entered into a definitive merger agreement under which GTECH will acquire IGT in a transaction valued at $6.4bn, comprised of $4.7bn in cash and stock, and the assumption of $1.7bn in net debt.
Under the terms of the transaction, GTECH and IGT will combine under a newly-formed holding company organised in the UK.
The transaction, which has been approved by the boards of directors of both companies, is currently expected to be completed in the first or second quarter of 2015.
