International Game Technology (IGT) Investor Lawsuit to Halt Takeover Announced by Shareholders Foundation
2014年7月23日 - 11:15PM
The Shareholders Foundation, Inc. announces that an investor, who
currently holds International Game Technology (IGT) shares, filed a
lawsuit in effort to halt the proposed takeover of International
Game Technology by GTECH S.p.A. for a value of $18.25 per share.
Investors, who purchased shares of International Game Technology
(IGT) prior to July 16, 2014 and currently hold any of those IGT
shares, have certain options and should contact the Shareholders
Foundation, Inc. at mail@shareholdersfoundation.com or call +1
(858) 779-1554.
On July 16, 2014, International Game Technology (NYSE:IGT)
announced that it has entered into a definitive merger agreement
with GTECH S.p.A. for the acquisition of International Game
Technology (NYSE:IGT) by GTECH for $6.4 billion,
comprised of $4.7 billion in cash and stock and the
assumption of $1.7 billion in net debt. Under the terms
of the transaction, International Game Technology (NYSE:IGT) and
GTECH will combine under a newly formed holding company
organized in the United Kingdom (NewCo).
International Game Technology (NYSE:IGT) shareholders will receive
an aggregate value of $18.25 per NYSE:IGT share in a
combination of $13.69 in cash plus 0.1819 ordinary shares
of NewCo for each share of NYSE:IGT common stock.
However, the plaintiff claims that the takeover of International
Game Technology by GTECH S.p.A. undervalues International Game
Technology. Indeed, least one analyst has set the high target price
for NYSE:IGT shares at $19.00 per share and NYSE:IGT shares traded
in September 2013 as high as $21.01 per share. In addition, the
plaintiff alleges that the process is also unfair to NYSE:IGT
stockholders.
Those who currently are investors in International Game
Technology (IGT) shares and purchased any of those IGT shares prior
to the announcement have certain options and should contact the
Shareholders Foundation.
The Shareholders Foundation, Inc. is a professional portfolio
legal monitoring and settlement claim filing service, which does
research related to shareholder issues and informs investors of
securities class actions, settlements, judgments, and other legal
related news to the stock/financial market. The Shareholders
Foundation, Inc. is not a law firm. The information is provided as
a public service. It is not intended as legal advice and should not
be relied upon.
CONTACT: Shareholders Foundation, Inc.
Michael Daniels
+1 (858) 779-1554
mail@shareholdersfoundation.com
3111 Camino Del Rio North
Suite 423
San Diego, CA 92108
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