IGT and Cyberview Technology announce preliminary merger discussions
The parties agreed to an exclusive negotiating period. Under the terms being discussed, shareholders, option holders and warrant holders of Cyberview would receive aggregate consideration of up to us$ 70 million for all of the outstanding equity securities of Cyberview.
Discussions are in early stages. The terms of any potential transaction may be materially different from what is being discussed. The transaction remains subject to negotiation of other terms, completion of due diligence, negotiation of terms of a definitive agreement under Delaware law, regulatory approvals and approvals of the Boards of Directors of both companies.
If a definitive agreement is reached, approval by Cyberview's shareholders and satisfaction of other closing conditions not yet agreed upon would be required to close the transaction. There can be no assurances that any agreement will be reached or that a transaction will be completed on the terms set forth above or others. There will be no further comment until an agreement is reached or the discussions are terminated.
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