NEW YORK, July 16, 2014 /PRNewswire/ -- Tripp Levy PLLC, a leading national securities and shareholder rights law firm, has announced that it is investigating the acquisition of International Game Technology (NYSE: IGT) on behalf of investors. IGT announced that it has entered into a definitive merger agreement with GTECH S.p.A. for the acquisition of IGT by GTECH. Under the terms of the transaction, IGT and GTECH will combine under a newly formed holding company organized in the United Kingdom (NewCo). IGT shareholders will receive an aggregate value of $18.25 per IGT share in a combination of $13.69 in cash plus 0.1819 ordinary shares of NewCo for each share of IGT common stock. GTECH shareholders will exchange each of their existing GTECH shares for one (1) newly issued NewCo share.
The investigation concerns whether the senior management and board of directors of IGT engaged in a full and fair auction and process to insure that shareholders received the maximum value for their shares, whether the implied price of $18.25 is unfairly low, and whether the management of IGT received any benefits for their own self interests that are not also being shared with other shareholders of IGT. Indeed, analysts have projected that the true going forward inherent value of IGT is worth at least $19 per share and the stock hit a high this past year of $21.20 per share.
If you are a shareholder of IGT and would like additional information as to how the acquisition may affect your rights as a shareholder, please call us at no cost at:
Tripp Levy PLLC represents individual and institutional shareholders and, along with its affiliates, has recovered billions of dollars for shareholders in similar actions around the globe. Tripp Levy PLLC is affiliated with the law firm Milberg LLP. Attorney advertising. Prior results do not indicate a similar outcome.
SOURCE Tripp Levy PLLC