Bally Technologies announces that its proposed $1.3 billion acquisition of SHFL Entertainment has passed a mandatory waiting period from the Federal Trade Commission (FTC) without any concern of antitrust issues.
The Las Vegas-based slot machine manufacturer said this week that the applicable waiting period under the Hart-Scott-Rodino Antitrust Act of 1976 expired on Monday without any action or questions by the FTC or Department of Justice.
SHFL shareholders still need to approve the merger before it is authorised, as well as further regulatory approvals and certain other customary closing conditions.
The transaction is expected to close following the satisfactory completion of all required closing conditions. It is not subject to a financing contingency and Bally has obtained commitments for a new $1.1bn-term loan facility to finance the acquisition.
Bally and SHFL announced on July 16, the company had entered into a definitive agreement and plan of merger pursuant to which Bally has agreed to acquire SHFL at a price per share of $23.25 in cash for total consideration of approximately $1.3bn, subject to the satisfaction of certain pre-closing conditions. Completing the waiting period satisfies one of the conditions required to finalise the acquisition.
SHFL Entertainment is a leading global gaming supplier committed to making gaming more fun for players and more profitable for operators through product innovation, and superior quality and service.
The company operates in legalized gaming markets across the globe and provides state-of-the-art, value-add products in the five distinct categories utility products, proprietary table games, electronic table systems, electronic gaming machines, and newly introduced iGaming.
About Bally Technologies, Inc.
With a history dating back to 1932, Las Vegas-based Bally Technologies designs, manufactures, operates and distributes advanced gaming devices, systems and technology solutions worldwide. The company’s product line includes reel-spinning slot machines, video slots, wide-area progressives, mobile and interactive applications, and Class II, lottery and central determination games and platforms. Bally also offers an array of casino management, slot accounting, bonusing, cashless and table management solutions.
Company Page: InnovateGaming.com/Bally-Technologies