International Game Technology (NYSE: IGT) (“IGT”) and GTECH S.p.A. (“GTECH”) today announced IGT’s final per share merger consideration under the previously announced Agreement and Plan of Merger dated as of July 15, 2014, as amended (the “Merger Agreement”) by and among IGT, GTECH, GTECH Corporation, International Game Technology PLC (“NewCo” – referenced as “HoldCo” in the Merger Agreement) and Georgia Worldwide Corporation.
Upon completion of the transactions contemplated by the Merger Agreement, IGT shareholders will be entitled to receive $14.3396 in cash, plus 0.1819 ordinary shares of NewCo for each share of IGT common stock. GTECH shareholders will receive one ordinary share of NewCo for each share of GTECH. As previously announced, NewCo will be the holding company of the combined organization and upon closing on April 7, it is expected that its ordinary shares will trade on the New York Stock Exchange under the “IGT” ticker symbol (Ticker Symbol: IGT; ISIN code GB00BVG7F061).
The final per share merger consideration payable to IGT shareholders was determined pursuant to the process outlined in the Merger Agreement, which included the calculation of the “Gold Share Trading Price” of $20.2379, wherein an average U.S. dollar converted VWAP price for GTECH shares was calculated from 10 trading days selected randomly from a 20-trading day window.