GTECH Shareholders Approve Merger Agreement with Lottomatica
08 June 2006 - 3:46AM
PR Newswire (US)
WEST GREENWICH, R.I., June 7 /PRNewswire-FirstCall/ -- GTECH
Holdings Corporation (NYSE:GTK) announced that its shareholders
have voted to approve the previously-announced merger agreement
providing for the acquisition of GTECH by Lottomatica S.p.A., at a
special meeting of shareholders held at GTECH's corporate
headquarters today. Subject to the satisfaction or waiver of the
remaining conditions set forth in the merger agreement, the
proposed merger is expected to be completed in mid-2006. If the
proposed merger is completed, GTECH will become an indirect,
wholly-owned subsidiary of Lottomatica and each outstanding share
of GTECH common stock will be converted into the right to receive
$35.00 in cash, without interest. "We are pleased with the outcome
of today's vote and appreciate the support of our shareholders,"
said GTECH President and CEO W. Bruce Turner. "We believe that this
transaction will position us well for continued growth in the
global gaming markets. Upon completion of the transaction, we look
forward to working with Lottomatica to continue to meet the needs
of our worldwide customers." Statements about the expected timing,
completion, and effects of the proposed merger and all other
statements in this document, other than historical facts,
constitute forward-looking statements within the meaning of the
safe harbor provisions of the Private Securities Litigation Reform
Act of 1995. Readers are cautioned not to place undue reliance on
these forward- looking statements and any such forward-looking
statements are qualified in their entirety by reference to the
following cautionary statements. All forward-looking statements
speak only as of the date hereof and are based on current
expectations and involve a number of assumptions, risks, and
uncertainties that could cause the actual results to differ
materially from such forward-looking statements. GTECH and
Lottomatica may not be able to complete the proposed merger because
of a number of factors, including the failure of Lottomatica to
obtain financing, the failure to receive required assurances from
certain significant lottery customers, Lottomatica maintaining a
pro forma investment grade credit rating, or the failure to satisfy
the other closing conditions. These factors, and other factors that
may affect the business or financial results of GTECH, are
described in GTECH's filings with the Securities and Exchange
Commission, including GTECH's proxy statement dated May 8, 2006 and
Items 1 and 7 of GTECH's annual report on Form 10-K for the fiscal
year ended February 25, 2006. GTECH does not undertake any
obligation to update its forward-looking statements to reflect
events or circumstances after the date of this document. GTECH is a
leading gaming technology and services company. With more than $1.3
billion in annual revenues and 5,300 people in over 50 countries,
GTECH provides integrated technology, creative content, and
business services to effectively manage and grow today's evolving
gaming markets. In targeted emerging economies, GTECH also
leverages its operational presence and infrastructure to supply
commercial transaction processing services. For more information
about the Company, please visit GTECH's website at
http://www.gtech.com/. Contact: Robert K. Vincent Public Affairs
GTECH Corporation 401-392-7452 DATASOURCE: GTECH Holdings
Corporation CONTACT: Robert K. Vincent, Public Affairs of GTECH
Corporation, +1-401-392-7452 Web site: http://www.gtech.com/
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