As previously announced on July 16, 2014, GTECH and IGT entered into a definitive merger agreement pursuant to which GTECH will acquire IGT in a transaction valued at USD 6.4 billion, comprised of USD 4.7 billion in cash and stock, and the assumption of USD 1.7 billion in net debt.
Under the terms of the transaction, GTECH and IGT will combine under a newly-formed holding company organized in the United Kingdom (NewCo). 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. The transaction is subject to the receipt of required regulatory and gaming clearances, approval by each of the GTECH and IGT shareholders, and other customary conditions.